If the probability of an event is 0.8, what are the odds in favor of the event?

Prepare for the Discovering Statistics Using IBM SPSS Statistics Test with detailed questions and thorough explanations. Enhance your statistical understanding and apply SPSS effectively. Get ready to excel in your assessment!

Multiple Choice

If the probability of an event is 0.8, what are the odds in favor of the event?

Explanation:
Odds in favor compare how often an event occurs to how often it does not. If the event has probability 0.8, the probability it does not occur is 1 − 0.8 = 0.2. The ratio of favorable to unfavorable is 0.8 to 0.2, which simplifies to 4 to 1. So the odds in favor are 4 to 1. This means for every 4 successes, you’d expect 1 non–success. The other options correspond to different probabilities (for example, 1 to 4 is odds against, and 2 to 3 or 3 to 2 would give probabilities 0.4 or 0.6, not 0.8).

Odds in favor compare how often an event occurs to how often it does not. If the event has probability 0.8, the probability it does not occur is 1 − 0.8 = 0.2. The ratio of favorable to unfavorable is 0.8 to 0.2, which simplifies to 4 to 1. So the odds in favor are 4 to 1. This means for every 4 successes, you’d expect 1 non–success. The other options correspond to different probabilities (for example, 1 to 4 is odds against, and 2 to 3 or 3 to 2 would give probabilities 0.4 or 0.6, not 0.8).

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