[rc5] minor quibble with stats
Ronald Van Iwaarden
rrt0136 at ibm.net
Wed Jun 25 18:23:22 EDT 1997
On Wed, 25 Jun 1997 18:00:14 -0500, Evan Jeffrey wrote:
>>On Wed, 25 Jun 97 15:04:47 , you wrote:
>>> Just a minor error in the executive summary. It says that
>>>the "odds" of finding the key in the next 24hrs when it should be the
>>>"Probability" of finding the key in the next 24hrs...
>>
>>>From what I can remember in school, it's the same thing, one minor
difference.
Actually, the difference is not always minor...
>>Odds are defined as
>>Number_Of_Things_You_Want_To_Happen :
Number_Of_Things_You_Don't_Want_To_Happen
snip
>>So odds of 1 in 425 is a probability of 1/426.
And odds of 3:1 are probability of 0.75... Significantly different numbers.
>Perhaps, A) odds are typically represented as X to Y, whereas a percent
>should be probability, and B) probability sounds much more professional ;)
This was more my point (both A and B). It may be true that the numbers given
are correct as to odds. However, I have found that many people use the works
odds and probability as exact synonyms when they are not. Perhaps it is just
the mathematician in me but I prefer what is presented to be precise.
--Ron
o Ronald Van Iwaarden | Work to live;
/\ Hope College | Live to bike;
_`\ `_<=== Holland MI 49423 | Bike to work!
__(_)/_(_)___.-._ voice : (616)355-7120 | http://www.cs.hope.edu/~rvaniwaa/
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