Question

for a certain casino slot machine, the odds in favor of a win are given as 17 to 83. express the indicated degree of likelihood as a probability value between 0 and 1 inclusive. the probability is (round to two decimal places as needed.)

Explanation:

Step1: Recall the formula for probability from odds in favor

The formula to convert odds in favor (a to b) to probability is $\frac{a}{a + b}$. Here, $a = 17$ and $b = 83$.

Step2: Calculate the sum of a and b

First, find $a + b$: $17+83 = 100$.

Step3: Calculate the probability

Now, use the formula: $\frac{17}{100}=0.17$.

Answer:

0.17