If the probability of an event is 0.25, what are the odds in favor of the event?

If the probability of an event is 0.25, what are the odds in favor of the event?

Step 1: Understand that the probability of an event is given as 0.25.
Step 2: Recognize that the odds in favor of the event can be calculated using the formula: odds in favor = probability of event / (1 - probability of event).
Step 3: Calculate (1 - probability of event). Since the probability is 0.25, we calculate 1 - 0.25 = 0.75.
Step 4: Now, use the formula to find the odds in favor: odds in favor = 0.25 / 0.75.
Step 5: Perform the division: 0.25 divided by 0.75 equals 1/3.
Step 6: Write the odds in favor in the format of 'X:Y'. Since we have 1/3, the odds in favor are 1:3.

Probability and Odds – Understanding the relationship between probability and odds, specifically how to convert probability into odds in favor.