RAFFLE WINNERS

RE: RAFFLE WINNERS

No, I'm pretty sure the odds are still the same, IIRC. For example, if you pick heads on a coin flip, the odds are 1 in 2. Always. The chances of it coming up heads twice, I thought, was still 1 in 2. It's been a while since I took stats, though.
 
RE: RAFFLE WINNERS

I believe the odds are squared for two consecutive wins, cubed for three consecutive wins, etc...

If the original odds were 1 in 8, the odds of winning twice consecutively is 8^2 = 64.

To win three times consecutively the odds are 1 in 8^3 = 512.

Your chances of picking a 3 digit number is 1 in 1000.

Doing it twice consecutively is 1 in 1000^2 = 1,000,000.
 
RE: RAFFLE WINNERS

I believe the odds of us figuring out the odds are 23 in 1. 23 replies to one questions....heh.... what are the odds?
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
No, I'm pretty sure the odds are still the same, IIRC. For example, if you pick heads on a coin flip, the odds are 1 in 2. Always. The chances of it coming up heads twice, I thought, was still 1 in 2. It's been a while since I took stats, though.
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Every time you flip, you multiply your chances (becuase your using a 50/50 assumption). So getting 2 stright heads is 1/4. Getting 5 straight heads is 1/32, and so on.
 
RE: RAFFLE WINNERS

If A and B are Independent
A and B are two events. If A and B are independent, then the probability that events A and B both occur is: p(A and B) = p(A) x p(B). In other words, the probability of A and B both occurring is the product of the probability of A and the probability of B. What is the probability that a fair coin will come up with heads twice in a row? Two events must occur: a head on the first toss and a head on the second toss. Since the probability of each event is 1/2, the probability of both events is: 1/2 x 1/2 = 1/4. Now consider a similar problem: Someone draws a card at random out of a deck, replaces it, and then draws another card at random. What is the probability that the first card is the ace of clubs and the second card is a club (any club). Since there is only one ace of clubs in the deck, the probability of the first event is 1/52. Since 13/52 = 1/4 of the deck is composed of clubs, the probability of the second event is 1/4. Therefore, the probability of both events is: 1/52 x 1/4 = 1/208 .

from http://davidmlane.com/hyperstat/A127969.html

Looks like i was right back there. Except i fubared the math.

I knew 5 semesters of post-secondary math classes would come in handy some day. Yet somehow the second grade stuff failed me.
 
RE: RAFFLE WINNERS

My head hurts. I have probabilities confused with combinations and permutations. :7
 
RE: RAFFLE WINNERS

Wait a minute, 1/8 x 1/8 = 1/64.

8^2 = 64

1/1000 x 1/1000 = 1/1,000,000

1000^2 = 1,000,000

I was right!

For the wrong reason.

I think.
 
RE: RAFFLE WINNERS

Odds and probability are two different things, the odds remain the same in the lottery every day, the probability of winning two days in a row is different.


probability of an event is defined as:

(Chances for)
P(x) = ---------------
(Total chances)


Odds, on the other hand, are given as:

(Chances for) : (Chances against)

The odds in a coin toss are 1:1

The probability is 1/2

Based on the number of tickets sold and the number of tickets I bought, I received 125 numbers. So the odds are 125:1000 or 1:8 I win every day.
 
RE: RAFFLE WINNERS

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Based on the number of tickets sold and the number of tickets I bought, I received 125 numbers. So the odds are 125:1000 or 1:8 I win every day.
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And the probability that you'll win two days in a row is 1/8 * 1/8 = 1/64

Odds and probability are the same thing. If the odds are one in 8, the probability is 1/8 or .125 or 1 in 8 or 12.5%, depending on how you want to say it.
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
Wait a minute, 1/8 x 1/8 = 1/64. 8^2 = 641/1000 x 1/1000 = 1/1,000,0001000^2 = 1,000,000I was right! For the wrong reason. I think.
[/div]

you were right. it's just usually not explained with exponents.
 
RE: RAFFLE WINNERS

Actually I did that wrong, the odds are 125:875 or 1:7
The odds that i win again today are 1:7
 
RE: RAFFLE WINNERS

I thought technically, "odds" was the reciprocal of probability.

One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
I thought technically, "odds" was the reciprocal of probability.One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?
[/div]

If Jimmy had 10 bags of weed and the crooked police only had reported he found five bags of weed how much jail time would Jimmy get?



Stanley E. Roberts
President/Founder
http://www.GoldenGateMark8.com
http://www.We8there.com
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
[div class="dcquote"][strong]Quote[/strong]I thought technically, "odds" was the reciprocal of probability.One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?[/div]If Jimmy had 10 bags of weed and the crooked police only had reported he found five bags of weed how much jail time would Jimmy get?Stanley E. RobertsPresident/Founderhttp://www.GoldenGateMark8.comhttp://www.We8there.com
[/div]

It depends. Does Jimmy know Steve?
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
I thought technically, "odds" was the reciprocal of probability.One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?
[/div]

Odds, are given as: (Chances for) : (Chances against)


Odds of 1:1 would be read as "one TO one", not "one OUT OF one.

If it is a coin toss you have 1 chance in wining and 1 chance in loosing.

The probability is 1/2 or 50%

If you have a hat with 8 balls, 1 red 7 white.

You have 1 chance in picking the red ball and 7 chances in picking a white ball, so the odds are 1 TO 7 or 1:7

The probability is 1/8 or 12.5%
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
[div class="dcquote"][strong]Quote[/strong]I thought technically, "odds" was the reciprocal of probability.One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?[/div]If Jimmy had 10 bags of weed and the crooked police only had reported he found five bags of weed how much jail time would Jimmy get?[/div]


In Denve, CO, the Mile High City, maybe none since they voted to legalize the possession of marijuana.
 
RE: RAFFLE WINNERS

[div class="dcquote"][strong]Quote[/strong]
[div class="dcquote"][strong]Quote[/strong]I thought technically, "odds" was the reciprocal of probability.One chance out of eight or 1/8 or 12.5% 'probability' equals 8:1 'odds'?[/div]Odds, are given as: (Chances for) : (Chances against)Odds of 1:1 would be read as "one TO one", not "one OUT OF one.If it is a coin toss you have 1 chance in wining and 1 chance in loosing.The probability is 1/2 or 50%If you have a hat with 8 balls, 1 red 7 white.You have 1 chance in picking the red ball and 7 chances in picking a white ball, so the odds are 1 TO 7 or 1 : 7 The probability is 1/8 or 12.5%
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Thanks, NOW I understand. :)
 
RE: RAFFLE WINNERS

I just think it's cool that Steves odds are smiley faces. Now what was the probability of THAT?
 
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