probability of 1/8 is 1 to 7, however, if no "to"

CFA Level I
#1

using the odds, probability of 1/8 is 1 to 7, however, if the problem doesn’t use the word “to”, rather, it uses the word “for” and “against”. should I choose probability of 1/8 is 1 for 7 or 1 against 7

#2

I think it’s just saying what are the odds FOR the event happening and AGAINST it happening so how about 1 to 7 for it happening and 7 to 1 against it happening? I’m not positive but that’s what I’d guess

#3

If there is 1 voting yes and 7 voting no, then the odds are 1 to 7 in favor of a yes vote. It is also the same as saying that the probability is 1 out of 8 (1/8). In the same example, the odds are 7 to 1 against a yes vote, or 7/8 probability.

#4

Yes, that’s clear, however, if the problem does NOT use the word “to”, rather, it uses the words such as “for” and “against”, what do you choose? (A) 1 for 7 (B) 1 against 7 Dreary Wrote: ------------------------------------------------------- > If there is 1 voting yes and 7 voting no, then the > odds are 1 to 7 in favor of a yes vote. It is > also the same as saying that the probability is 1 > out of 8 (1/8). > > In the same example, the odds are 7 to 1 against a > yes vote, or 7/8 probability.

#5

The odds are 1 to 7 Or the odds are 7 against 1 I’m not sure you can say “for”. …could be wrong though.