Odds... can someone explain?

Originally posted by Nemesio
You are misunderstanding the purpose of probability. Odds are simply a mathematical representation
of the likelihood of some event to obtain. Heads will obtain 50% of the time on a fair coin. If
you flip the coin five times, and it lands heads all five times, the odds before the toss were
still 50%, and the odds for the next toss is also 50%. That it ...[text shortened]... ong before, now you must be 2/3 likely to be
right now.

Make sense?

Nemesio

That's a good explanation.

Originally posted by Nemesio
You are misunderstanding the purpose of probability. Odds are simply a mathematical representation
of the likelihood of some event to obtain. Heads will obtain 50% of the time on a fair coin. If
you flip the coin five times, and it lands heads all five times, the odds before the toss were
still 50%, and the odds for the next toss is also 50%. That it ...[text shortened]... ong before, now you must be 2/3 likely to be
right now.

Make sense?

Nemesio

yes it does, but i already changed my position, see may latest post before this one. anyway it is a good explanation.