Question

For a certain instant lottery game, the odds in favor of a win are given as 43 to 57. Express the indicated degree of likelihood as a probability value between 0 and 1 inclusive.

Answer 1

`Win = 0.43`

Explanation:

Given

Odds in favor of win = 43 to 57

Required

Express as a probability

We start by getting the sum of both odds

`Sum = 43 + 57`

`Sum = 100`

Next, we divide the required odd by the calculated sum to get the probability

Odds in favor of win is calculated as thus

`Win= (43)/(100)`

`Win = 0.43`

Hence, the probability is 0.43