Question

For a certain instant lottery game, the odds in favor of a win are given as 71 to 29. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive

Answer 1

The odds in favor of a win are given as 71 to 29, which translates to a probability of 0.71 when expressed as a value between 0 and 1.

Step-by-step explanation:

To express the odds in favor of a win as a probability value, you first need to understand the total number of possible outcomes. The odds of winning are given as 71 to 29, which means for every 71 wins, there are 29 losses. To find the total number of outcomes, you add these two numbers together.

The total number of outcomes is 71 (wins) + 29 (losses) = 100. The probability of winning is the number of favorable outcomes (wins) divided by the total number of outcomes. Therefore, Probability (Win) = Number of Wins / Total Number of Outcomes = 71 / (71 + 29) = 71 / 100.

You then convert this fraction into a decimal to get the probability value between 0 and 1. So, Probability (Win) = 0.71. This is the probability value that expresses the degree of likelihood of a win in the lottery game.

Answer 2

0.4085

Step-by-step explanation:

Probability is the extent to which an event is likely to happen.It can be written as a ratio of the case in favor to the whole number of the cases possible.Probability of an event is between 0 and 1. 0 represent 0% chance and 1 represent 100% chance.

Given in question that the odds in favor of win are 71 to 29 this can be written as;

=29/71

=0.4085