If you read my first blog post about my math homework, you know that it did not end well for me. I did eventually finish it but it was a rough start! This time around I was way more successful. The main focus of my math homework this week was odds. What are the odds for this event to happen? What are the odds against this event to happen? One of the questions I was given was, If the probability of selling a car today is 24%, what are the odds against selling a car today? The odds against selling a car today are calculated as P( no sale ) to P( sale ). First, you have to find the probability of selling a car, which is 24 chances out of 100 or 6 out of 25 when reduced. Next, you have to find the probability that the car will not be sold. To calculate this you do one minus 6 out of 25 or 25 out of 25 minus 6 out of 25 which equals 19 out of 25.
P( no sale )= 1-6/25 or P( no sale )= 25/25-6/25
19/25 19/25
So, the probability of selling a car today is 6 out of 25 and the probability of not selling a car today is 19 out of 25. But wait......there's more! Your not quite done with this problem. You still need to find the odds against selling a car today. So, to find that, you divide the probability of not selling a car, P( no sale ), by the probability of selling a car, P( sale ).
P( no sale ) / P( sale )
19/25 / 6/25
Once you simplify that, it comes to 19 out of 6. So, the odds against selling a car today would be 19 to 6. A little side note: my dad did just buy a new car. A Jeep to be specific. And guess whose car has to be put in the driveway now.....mine! :( Sad day! Anyways, that was just one example of the math questions that I had.
Until next time! :)
Lauren
