The Odds of an Event Are

question 24

Multiple Choice

The odds of an event are

• A) The ratio of the probability of an event not happening to the probability of the event happening.
• B) The ratio of the probability of an event happening to the probability of the event not happening.
• C) The probability of an event occurring.
• D) None of the above.

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Definitions:

P Chart

A type of control chart used for monitoring the proportion of defective items in a sample over time in quality control processes.

Sample Proportion

The fraction or percentage of the sample that has a particular trait or characteristic of interest.

Control Limits

Statistical boundaries in process control that indicate the acceptable range of process variation.

Centerline

The midpoint value in a control chart that represents the average performance of the process being studied.