1 / 11

Counting and Probability

Counting and Probability. Lesson 5- Probability and Odds. Probability and Odds. Probability of an event – measure of the likelihood that the event will occur. It is a number between 0 and 1. Probability and Odds. Outcomes – different possible results

mkastner
Download Presentation

Counting and Probability

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. Counting and Probability Lesson 5- Probability and Odds

  2. Probability and Odds • Probability of an event – measure of the likelihood that the event will occur. • It is a number between 0 and 1

  3. Probability and Odds • Outcomes – different possible results • When an event has N equally likely outcomes, each of them occur with probability 1/N. • Example: Rolling a six-sided number cube, the possible outcomes are 1, 2, 3, 4, 5, and 6. The probability associated with each outcome is 1/6.

  4. Probability and Odds • EVENT – all of the possible outcomes • In the roll of a six-sided number cube, an “even roll” consists of the outcomes 2, 4, and 6. • THEORETICAL PROBABILITY - the probability that should happen. • The theoretical probability of an even roll is 3/6 = ½. • FAVORABLE OUTCOMES – the outcomes you wish to have happen.

  5. Probability and Odds • Theoretical Probability P(event) = Number of favorable outcomes Total number of outcomes

  6. Probability and Odds • Another type of probability is EXPERIMENTAL PROBABILITY. This type of probability is based on repetitions of an actual experiment and is calculated by the following rule. Experimental probability P(event)= Number of favorable outcomes observed Total number of trials

  7. Probability and Odds • Example 1 • You have 6 red and 12 black socks in a drawer. You reach in and pick a sock without looking. What is the probability P that the sock you pick in NOT black? • In a group of students, 12 ride the bus to school, 8 are driven to school, and 5 walk. One of the students is chosen at random from the group. What is the probability P that the student walks to school?

  8. Type of company37 Salary-93 location-103 Size of company 17 Probability and Odds • Example 2 • Use the circle graph below showing the responses of 250 college students to a survey asking “Which factor is most likely to influence your job choice after graduation?” If you were to ask a randomly chosen college student this question, what is the experimental probability that the student would say “type of company?”

  9. Probability and Odds • THE ODDS OF AN EVENT • When all outcomes are equally likely, the ODDS that an event will occur are given by the formula: • ODDS = Number of favorable outcomes Number of unfavorable outcomes Odds vs. Probability

  10. Probability and Odds • Example 3 • You randomly choose a letter from the word SUMMER. What are the odds that the letter is a vowel?

  11. Probability and Odds • Example 4 • The probability that a randomly chosen 4 digit security code contains at least one zero is 0.34. What are the odds that a 4 digit security code contains at least one zero?

More Related