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Mastering Probability: Understanding Chances and Odds in Real Life

Explore the world of probability with this comprehensive guide covering definitions, important terms, and real-life uses. Learn how to calculate odds, chances, and outcomes in various contexts like weather reports, medical findings, and state lotteries. Discover the likelihood of different events, from eye color inheritance to becoming president, with practical examples and explanations. Dive into the study of chance and uncover the secrets behind ratios, fractions, and decimals in probability calculations. Access a range of websites for further exploration and enhance your understanding of this fascinating topic.

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Mastering Probability: Understanding Chances and Odds in Real Life

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  1. Probability Jennifer Farist

  2. Table of Contents • Definitions • Important terms • Uses in real life Probability of eye color • Chances vs. odds What are the chances? What are the odds? How do we get these numbers? • Websites to learn more

  3. Definition:Probability is… • The study of chance • The likelihood that a given event will occur • a measure of how likely it is that some event will occur

  4. Likely Unlikely Chance Perhaps Outcome Probably Possible Impossible Maybe Odds Important terms

  5. Uses in real life • Weather reports • Medical findings • Political doings • State lotteries- Funny video

  6. http://museum.thetech.org/ugenetics/eyeCalc/eyecalculator.htmlhttp://museum.thetech.org/ugenetics/eyeCalc/eyecalculator.html What color eyes will your children have?

  7. Chances vs. odds One way to describe the chance of an event’s occurring is by using odds. • The odds in favor of an outcome is the ratio of the number of ways the outcome can occur to the number of ways the outcome cannot occur. Finding Odds in favor number of successes : number of failures the Odds • The odds against an outcome is the ratio of the number of ways the outcome cannot occur to the number of ways the outcome can occur. Odds against number of failures : number of successes

  8. Odds of events occurring

  9. Explanation of odds • Becoming the president of the United States 10,000,000 :1 Ten million people do not become president For every one person who becomes president

  10. What are the chances? • Chance of getting the flu this year: 1 in 10 • Chance of dying from a shark attack: 1 in 300,000,000 • Chance of an American home having at least one container of ice cream in the freezer: 9 in 10.

  11. Explanation of chances Chances of randomly choosing a vowel from the alphabet 5 vowels- a,e,i,o,u 26 letters in all

  12. Same information in bar graph

  13. Fractions Decimals Ratios How do we get these numbers?

  14. Web sites to explore to learn more • http://www.webmath.com/lottery.html • http://nces.ed.gov/nceskids/chances/ • http://www.brainpop.com/math/dataanalysisandprobability/basicprobability/ • http://pbskids.org/cyberchase/games/probability/index.html • http://www.betweenwaters.com/probab/probab.html • http://mathforum.org/dr.math/faq/faq.prob.world.html

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