Complete the following a If oddsA 13 what is PAc b If PAc

Complete the following

(a) If odds(A) = 1:3, what is P(A^c)?

(b) If P(A^c) = 3/7, what is Odds-against(A)?

(c) If OR(A,B) = odds(B)/odds(A), find OR(A,B) if P(A) =2/3 and P(B) =3/4

Solution

If odds A = 1:3

then P(A) = 1/4 and

P(A^c) = 1-1/4 = 3/4

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b) P(Ac) =3/7 then P(A) = 4/7

P(odds) against A = 3: 4

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c) OR(A,B) = Odd (B)/Odds(A)

P(A) =2/3 hence odds (A) 2:1   and Odds (B) = 3:1

Thus OR(A,B) = 3/2