Question

Suppose the probability of having your name drawn for a door prize is 0.01. What are the odds of having your name drawn? Express your answer in the form a:b.

Answer 1

`\begin{gathered} \text{Odds}=(Y)/(1-Y) \\ \\ Y\colon\text{ Probability of an event ocurring} \end{gathered}`

For the given event and probability:

`\text{Odds}=(0.01)/(1-0.01)=(0.01)/(0.99)=1\colon99`