William W. answered • 02/02/20
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Probability is "successes/total" while odds are "successes/failures". In this case, we call an audit a "success" despite that it doesn't seem like much of a success to me : )
If the probability is 2.8% then 2.8 out of 100 will be audited. That doesn't make a lot of sense since you can't have 2.8 people, so lets multiply by 10 and call it 28/1000 are audited. That means 972 are not audited. So the odds are 28/972, which is 0.288065844, or, rounded and turned to a %, it makes the odds 2.88%
William W.
A probability of 2.8% means 28/1000 or 7/250 as selected for audit. So there are 7 people selected out of every 250 people. That means there are 7 people selected and 243 not selected. So the odds of being selected are 7/243 or 7:243. This cannot be reduced but if you forced it by dividing both by 7, you could get an approximate answer of 1:34.71428571
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03/29/21
Kelsey L.
This is not correct. It needs to be 1:___03/28/21