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need a math whiz

Discussion in 'Non-Vegas Chat' started by chef, Jun 25, 2015.

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  1. chef

    chef Resident Buffetologist

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    Threw this out on facebook and my circle of friends had no idea how to solve. Thus, I give it to T2V.

    Event A has a 3 percent (or .03) chance of occurring

    Event B has a 2 percent (.02) chance of occurring

    Event C has a 2.5 percent (.025) chance of occurring

    Each event is unrelated to the others.

    My question(s) is this: What are the odds of both event A and B occurring. And, what are the odds of events A, B and C occurring. I'm sure there is a simple formula for it. The question concerns a high school sports team in Illinois that won a state trophy in football and basketball and almost pulled it off in baseball.
     
  2. Ernie Vegas

    Ernie Vegas Low-Roller

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    You just simply multiply the chances. Thus, A and B occurring in the same year would be .03 x .02 = .0006. Of course, given the varying degrees of talent in H.S. sports, some teams odds of winning are greater than a true random representation.
     
  3. chef

    chef Resident Buffetologist

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    Sure, I get that. But, I'm just looking for actual probabilities.
     
  4. azlefty

    azlefty Low-Roller

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    Ernie is right. If the events are independent, the probability of all of them occurring is Pr(A) * Pr(B) * Pr(C) = .03 x .02 x .025 = .000015.

    In other words, it's a good parlay if the return is at least 66,667 to 1 (or in American style odds, +6,666,700).
     
  5. chef

    chef Resident Buffetologist

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    thanks for the responses. greatly appreciated having smart minds on board T2V.
     
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