L3 Probability and Odds
Completion requirements
Unit E: Statistics and Probability
Chapter 2: Probability
Probability and Odds
Both probability and odds predict the outcome of a future event. Jeff stated that the probability of the spinner landing on yellow is 1 out of 4 and that the odds of the spinner landing on yellow are 1 to 3.
What is the difference between probability and odds?
What is the difference between probability and odds?
The odds of winning food and coffee prizes in the Tim Hortons® Roll Up the Rim to Win Contest is 1:6.
In this lesson, the difference between probability and odds will be discussed.
By the end of this lesson, you will be able to
- explain the difference between odds and probability
- determine the odds in favour of an event occurring
- determine the odds against an event occurring
- determine probability when given the odds in favour
- determine probability when given the odds against