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Find Probabilities and Odds

Find Probabilities and Odds. Vocabulary. Outcome - a possible result of an experiment Event - an outcome or a collection of outcomes Sample space- the set off all possible outcomes Probability - a number from 0 to 1 that measures the likelihood, or chance, that the event will occur.

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Find Probabilities and Odds

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  1. Find Probabilities and Odds

  2. Vocabulary • Outcome- a possible result of an experiment • Event- an outcome or a collection of outcomes • Sample space- the set off all possible outcomes • Probability- a number from 0 to 1 that measures the likelihood, or chance, that the event will occur.

  3. Vocabulary cont. • Odds in favor-when all outcomes are equally likely, the odds in favor of an event is the ratio of the number of favorable outcomes to the number of unfavorable. • Odds against- when all outcomes are equally likely, the odds in favor of an event is the ratio of the number of unfavorable outcomes to the number of favorable outcomes.

  4. Example 1 You flip 2 coins. How many possible outcomes are in the sample space? List the possible outcomes. Use a tree diagram to find the outcomes.

  5. Example 2 You flip 3 coins. How many possible outcomes are in the sample space? List the possible outcomes. Use a tree diagram to find the outcomes.

  6. Example 3 ***Find The Theoretical Probability You reach into a bag containing 4 yellow marbles, 5 green marbles, and 6 blue marbles. What is the probability of choosing a blue marble? What is the probability of selecting a green marble?

  7. Example 4 ***Find The Odds A study indicates that out of every 60 telephone calls, 6 result in busy signals and 12 result in no answer. What are the odds in favor of someone answering? What are the odds against someone answering? What are the odds in favor of a busy signal?

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