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Old 07-28-2007   #1
quantum ant
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Default Can you convert 41.4/1053.7 odds to probability?

Including the decimals.?
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Old 07-28-2007   #2
SuperC
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I'm a little confused- that seems like it is already a probability. If you want, you can divide both parts by 41.4 to get a ratio relative to 1. I.E.:1:25.45
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Old 07-28-2007   #3
Bedford
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Odds are ways to win compared to ways to lose. Or ways to do A compared to ways to do B.5 to 1 odds that it will rain means there are 5 chances it will rain and 1 chance it won't. Written as a probability this would be a 5/6 chance of rain.Probability is the ways to win compared to total possible outcomes.To convert your problem add both numbers. This becomes your denominator. Then put the 41.1 over that denominator to get the probability of winning (or whatever it is). You can put 1053.7 over the denominator to get the probability of losing (or whatever it is).
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Old 07-28-2007   #4
engineer
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Odds are typically given as a:b, not a/b.This is interpreted as the probability of the event occuring as a / (a+b).In your case, this would be 41.4 / (41.4 + 1053.7), or expressed as a decimal fraction, about 0.037805.
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