Odds are used to describe the chance of an event occurring. The
odds are the ratios that compare the number of ways the event can
occur with the number of ways the event cannot occurr.
The odds in favor - the ratio of the number of ways that an
outcome can occur compared to how many ways it cannot
occur.
Odds in favor = Number of successes: Number of
failures
The odds against - the ratio of the number of ways that an
outcome cannot occur compared to in how many ways it can
occur.
Odds against = Number of failures: Number of
successes
Example:
A jewelry box contains 5 white pearl, 2 gold rings and 6 silver
rings. What are the odds of drawing a white pearl from the jewelry
box?
Number of successes = 5
Number of failures = 2 + 6 = 8
Numbers of ways to draw a white pearl: number of ways to draw
another jewelry.
5:8
The odds are 5:8
Video lesson: What are the odds to draw a blue
pen?