1.6 What Are the Odds?

TODAY'S AGENDA: We are learning the odds, sample, and population.
1) Watch the video and answer the following questions. 
2) Read the definition of odds.
2) Complete pages  34, 35, 36, 37, 38, and 39.
ODDS: Ratio of the probability of an event happening to the probability of an event not happening. For example, the odds of rolling a 6 if you roll one die are 1:5. That is because there is one 6 on the die and 5 other numbers.
Sample and Population
1) A sample is the group of subjects to study.
A. True
B. False

2) A sample is harder to analyse.
A. True
B. False
3) Which is the definition of POPULATION?
A. All of the people in a group being studied.
B. A small number of people in a group being studied.
Odds
Odds are used to describe the chance of an event happening. The odds are the ratios that compare the number of ways the event can occur with the number of ways the event cannot occurr.

                       Odds in favor = number of successes : number of failures

Example:
What are the odds of winning a free coffee if there is 1 winning cup in every 6 cups?

Number of successes = 1                           
Number of failures = 6-1= 5
The odds of winning are 1 : 5