Question

suppose the odds in favor of a person who is alive at age 20 still being alive at age 70 are 193 to 279. find the probability that a person who is alive at age 20 will still be alive at age 70.

the probability is \boxed{}.
(type an integer or a simplified fraction.)

Explanation:

Step1: Recall the formula for probability from odds

If the odds in favor of an event \(E\) are \(a\) to \(b\), then the probability \(P(E)=\frac{a}{a + b}\). Here, \(a = 193\) (number of favorable outcomes) and \(b=279\) (number of unfavorable outcomes).

Step2: Calculate the probability

Substitute \(a = 193\) and \(b = 279\) into the formula \(P(E)=\frac{a}{a + b}\). So, \(P=\frac{193}{193+279}\).

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Answer:

\(\frac{193}{472}\)