One of the two events must happen. Given that the chance of one is two-third of the other, find the odds in favour of the other.
Let A and B are two events.
As, out of 2 events A and B only one can happen at a time which means no event have anything common.
∴ We can say that A and B are mutually exclusive events.
By definition of mutually exclusive events we know that:
P(A ∪ B) = P(A) + P(B)
According to question one event must happen.
This implies A or B is a sure event.
∴ P(A ∪ B) = P(A) + P(B) = 1 …Equation 1
Given, P(A) = (2/3)P(B)
To find: odds in favour of B
∴
⇒
∴ P(B’) = 1 – 3/5 = 2/5
∴ Odd in favour of B =