Probability 2
Probability 2
BINOMIAL
of heart)
The odds for throwing a total of 5 or
10 is:
DISTRIBUTION
“Pick a face card (one of the 12 cards showing
a face i.e. king, queen or jack)
DISTRIBUTIO
7
36 7
odd = =
Frequency of the outcome – refers to the number If there are two possible outcomes of an event 7 29
of times a certain outcome will occur. For 1−
and the possibilities of the outcome are
N
36
example, if you roll a die 50 times, you are independent and constant, the distribution of
conducting 50 trials of the same experiment. probabilities is called binomial distribution. This is expressed as 7-to-29 odds.
The number of times a “6” comes up is known
as the frequency of the outcome.
Two or more events are said to be mutually The term “odd” is an ambiguous word that may The “odds against” an event are the reciprocal
exclusive if no two of them can possibly happen in refer to the probability that an event occurs, or of the “odds for” the event. The odds of 5 to 7
the same trial. it can be used to indicate the payoff on a for an event is translated into odds of 7 to 5
winning bet. It sometimes may mean or is against it.
For example, in throw a synonymous to the word “chance”.
die, it is not possible to Problem:
have one and six face up at If a coin is tossed, the probability of coming up A player in a certain card game lays odd of
head is 50% and the probability of coming up
the same time or in a draw tail is also 50%. This is an example of 1-to-1 3 to 5 for him to win. What would be the
of a single card from a odds or even odds. For a game with even odds, payoff for a bet of 3 pesos?
deck of cards, you can’t a one peso bet is paid exactly one peso upon
pick a heart and a diamond winning. This is known as the “true odds”. Solution:
at the same time However, there are instances that 90 centavos
is paid instead to a one peso bet, which would 3 3
give it an advantage on each game. This refers Odds for = =
to the “payoff odds”. The payoff odds are not 3+5 8
If two or more events are mutually exclusive, the
always the same as the true odds.
probability that either one or the other will occur is Therefore, it is a 3-to-8 odd. A bet of 3
the sum of their probabilities. The odds of an event, E occurs is the ratio of pesos will have a payoff of 8 pesos.
the probability that it will occur to the
The probability for a mutually exclusive event (E or probability that it will not occur.
F) is:
prob. that E occurs The Future of Education!
odds for E = Like us on Facebook
PE or F = PE + PF prob. that E does not occur
alterguru.com
PE
odds for event E =
Excel Review Center 1 − PE