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probabilities and odds

probabilities and odds

Math   Statistics-And-Probability   
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Answer #1

Solution: I guess that you are asking difference between probability and odds.

Probability is a chance that something will happen or we can say the chances of occurrences of event which are unpredictable in nature. Probability ranges from 0 to 1.

Odds are probability that the event will occur divided by the probability that the event will not occur. Odds has an infinite range.

If probability of an event is Y, then the odds of it happening is Y/(1-Y).

Hope this is what you needed.

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