Find the Probability the Event with Odds in Favor of 1

question 4

Multiple Choice

Find the probability the event with odds in favor of 1 to 9.

• A) \(P ( E ) = \frac { 10 } { 11 }\)
• B) \(P ( E ) = \frac { 1 } { 10 }\)
• C) \(P ( E ) = \frac { 8 } { 9 }\)
• D) \(P ( E ) = \frac { 9 } { 10 }\)
• E) \(P ( E ) = \frac { 1 } { 11 }\)

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Definitions:

Production Possibilities Frontier

A graph that shows the combinations of two goods or services that an economy can produce, given its technological capabilities and resources.

Adaptable Resources

Resources that can be adjusted or converted to meet changing conditions or requirements within an economy or market.

Closed Economy

An economic system that does not engage in international trade, with no exports or imports, relying solely on domestic production and consumption.

Japan

An island country in East Asia, known for its rich culture, technological advancements, and significant economic power.