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2.1 multiple probabilities

The chances of type1 are:

For 200 trials, each with probability = 4%, on average there will be 8 type1.

Probability

  • 0.040000

    • As a percentage

  • 4.0000%

    • As a rounded-off proportion

  • 1 in 25

    • As approximate fair betting odds

  • 24 : 1

    • Representative example

    For type1

  • 200 chances for type1
  • Observed type1: 14 = 7.000% (expected average: 8 = 4.000%)

    • What are the Chances of That? - The Book

    Five reasons that we find it hard to think about uncertainty. To be published by Oxford University Press in 2021.

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