1 / 19

10-7

Learn about odds in favor and against events, convert between probabilities and odds, and solve examples involving raffles and prizes. Find probabilities of outcomes based on given odds. Explore the relationship between probability and odds.

gterrell
Download Presentation

10-7

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 10-7 Odds Course 3 Warm Up Problem of the Day Lesson Presentation

  2. 10-7 Odds 5 87 7 29 Course 3 Warm Up A bag contains 15 nickels, 10 dimes, and 5 quarters. Two coins are drawn without replacement. 1.Find the probability that the first is a dime and the second is a quarter. 2. Find the probability that they are both nickels.

  3. 10-7 Odds Course 3 Problem of the Day Larissa was born in August. What is the probability that she was born on an odd-numbered day? ≈ 0.52

  4. 10-7 Odds Course 3 Learn to convert between probabilities and odds.

  5. 10-7 Odds Course 3 Insert Lesson Title Here Vocabulary odds in favor odds against

  6. 10-7 Insert Lesson Title Here a:b odds in favor b:a odds against Course 3 The odds in favor of an event is the ratio of favorable outcomes to unfavorable outcomes. The odds against an event is the ratio of unfavorable outcomes to favorable outcomes. a= number of favorable outcomes b= number of unfavorable outcomes a + b= total number of outcomes

  7. 10-7 Odds Course 3 Additional Example 1A: Finding Odds In a club raffle, 1,000 tickets were sold, and there were 25 winners. Estimate the odds in favor of winning this raffle. The number of favorable outcomes is 25, and the number of unfavorable outcomes is 1000 – 25 = 975. The odds in favor of winning this raffle are about 25 to 975, or 1 to 39.

  8. 10-7 Odds Course 3 Additional Example 1B: Finding Odds In a club raffle, 1,000 tickets were sold, and there were 25 winners. Estimate the odds against winning this raffle. The odds in favor of winning this raffle are 1 to 39, so the odds against winning this raffle are about 39 to 1.

  9. 10-7 Odds Course 3 Check It Out: Example 1A Of the 1750 customers at an arts and crafts show, 25 will win door prizes. Estimate the odds in favor winning a door prize. The number of favorable outcomes is 25, and the number of unfavorable outcomes is 1750 – 25 = 1725. The odds in favor of winning a door prize are about 25 to 1725, or 1 to 69.

  10. 10-7 Odds Course 3 Check It Out: Example 1B Of the 1750 customers to an arts and crafts show, 25 will win door prizes. Estimate the odds against winning a door prize at the show. The odds in favor of winning a door prize are 1 to 69, so the odds against winning a door prize are about 69 to 1.

  11. 10-7 Odds Probability and odds are not the same thing, but they are related. Suppose you want to know the probability of rolling a 2 on a fair die. There is one way to get a 2 and five ways not to get a 2, so the odds in favor of rolling a 2 are 1:5. Notice the sum of the numbers in the ratio is the denominator of the probability . 16 Course 3

  12. 10-7 Odds = 1 50 1 1 + 49 Course 3 Additional Example 2A: Converting Odds to Probabilities If the odds in favor of winning a CD player in a school raffle are 1:49, what is the probability of winning a CD player? On average there is 1 win for every 49 losses, so someone wins 1 out of every 50 times. P(CD player) =

  13. 10-7 Odds ≈ 1 1 12,000 1 + 11,999 Course 3 Additional Example 2B: Converting Odds to Probabilities If the odds against winning the grand prize are 11,999:1, what is the probability of winning the grand prize? If the odds against winning the grand prize are 11,999:1, then the odds in favor of winning the grand prize are 1:11,999. P(grand prize) = = 0.000083333

  14. 10-7 Odds = 1 76 1 1 + 75 Course 3 Check It Out: Example 2A If the odds in favor of winning a bicycle in a raffle are 1:75, what is the probability of winning a bicycle? On average there is 1 win for every 75 losses, so someone wins 1 out of 76 times. P(bicycle) =

  15. 10-7 Odds ≈ 1 1 20,000 1 + 19,999 Course 3 Check It Out: Example 2B If the odds against winning the grand prize are 19,999:1, what is the probability of winning the grand prize? If the odds against winning the grand prize are 19,999:1, then the odds in favor of winning the grand prize are 1:19,999. P(grand prize) = = 0.00005

  16. 10-7 Odds Suppose that the probability of an event is . This means that, on average, it will happen in 1 out of every 3 trials, and it will not happen in 2 out of every 3 trials, so the odds in favor of the event are 1:2 and the odds against the event are 2:1. 13 mn Course 3

  17. 10-7 Odds B. The probability of winning a door prize is . What are the odds against winning a door prize? 1 1 20 10 Course 3 Additional Example 3: Converting Probabilities to Odds A. The probability of winning a free dinner is . What are the odds in favor of winning a free dinner? On average, 1 out of every 20 people wins, and the other 19 people lose. The odds in favor of winning the meal are 1:(20 – 1), or 1:19. On average, 1 out of every 10 people wins, and the other 9 people lose. The odds against the door prize are (10 – 1):1, or 9:1.

  18. 10-7 Odds A. The probability of winning a free laptop is . What are the odds in favor of winning a free laptop? 1 1 30 50 Course 3 Check It Out: Example 3 On average, 1 out of every 30 people wins, and the other 29 people lose. The odds in favor of winning the meal are 1:(30 – 1), or 1:29. B. The probability of winning a math book is . What are the odds against winning a math book? On average, 1 out of every 50 people wins, and the other 49 people lose. The odds against the math book are (50 – 1 ):1, or 49:1.

  19. answer 4 10-7 Odds 1 900 Course 3 Insert Lesson Title Here Lesson Quiz Of 200 people at the grand opening of a store, 10 will win door prizes. 1. Estimate the odds of winning a door prize. 2. Estimate the odds against winning a door prize. 3. If the odds of winning a new computer are 1:899, what is the probability of winning the computer? 4. The probability of winning a new truck is . What are the odds against winning the truck? 1:19 19:1 1 600,000 599,999:1

More Related