Last year, the average salary increase for poultry research assistants was 2.5%. Of the 10,000 poultry research assistants, 2,000 received raises in excess of this amount. The odds that a randomly selected poultry research assistant received a salary increase in excess of 2.5% are:
A. 20%.
B. 1 to 5.
C. 1 to 4.
solution:C
For event E, the probability stated as odds is P(E)/[1-P(E)]. Here, the probability that a poultry research assistant received a salary increase in excess of 2.5% = 2,000 / 10,000 = 0.20, or 1/5 and the odds are (1/5)/[1-(1/5)] = 1/4, or 1 to 4.