If you choose an answer to the question, "What color am I thinking of?" what is the chance you are correct?
Odds are the snapshot in time chance of something happening, completely exclusive of any other factors or knowledge. Odds are 50/50 that you'll get heads when you flip a coin.
Probability is when you consider multiple snapshots in time. Odds are 50/50 that the 5th time in a row you flip a coin it will be heads, but if it was heads the 4 times prior, the probability of it being heads again is below 50%. A smart bet may be to bet against heads showing a 5th time in a row since even though the odds are 50/50, the probability is less.
Which of the following are vowels?
D) A & E
E) B & C
There is a box with 2 red balls and 5 white balls. Two balls will be drawn from the box at random in succession, without replacement. What is the probability that you draw a white ball then a red ball?
If you flip a fair coin 20 times, is it possible for it to turn up 19 times heads? If you flip a coin 20 times and it turns up 19 times heads, might you suspect the coin is unfair?
The fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. They laughed at Columbus, they laughed at Fulton, they laughed at the Wright brothers. But they also laughed at Bozo the Clown.
- Carl Sagan
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