Quantitative Literacy Practice Exam

If the probability of a candidate being elected is 0.10, what are the odds of being elected?

1. 1:10

2. 1:9

3. 1:5

4. 2:9

The correct answer is: 1:9

To determine the odds of a candidate being elected based on the probability provided, it is essential to understand the relationship between probability and odds. Probability is defined as the ratio of favorable outcomes to the total number of possible outcomes, while odds are usually expressed as the ratio of favorable outcomes to unfavorable outcomes. In this case, the probability of the candidate being elected is given as 0.10, which means that there is a 10% chance of the candidate winning. To convert this probability into odds, we first recognize that if the probability of being elected is 0.10 (or 10%), the probability of not being elected would be 1 - 0.10, which equals 0.90 (or 90%). Now, we can express the odds of being elected as the ratio of the probability of being elected (0.10) to the probability of not being elected (0.90). Thus, we have: Odds of being elected = Probability of being elected : Probability of not being elected = 0.10 : 0.90 To simplify this ratio, we can multiply both sides by 10 for easier interpretation: = 1 : 9 The resulting odds of 1:9 mean that for