### Re: Mills Futurity - A cheating Mills Bandit?

Posted:

**Wed Jan 29, 2020 5:37 pm**the example I gave was not mine, its from a text book.so, all of that must be wrong...fair enough

you say text book quote was correct except the bit i added at the end...I did NOT add anything ,I cut and pasted the complete thing,as was,no changes.

from a different on line text book (note the final line) note, I have NOT added anything

"Probability is defined as the fraction of desired outcomes in the context of every possible outcome with a value between 0 and 1, where 0 would be an impossible event and 1 would represent an inevitable event. Probabilities are usually given as percentages. [ie. 50% probability that a coin will land on HEADS.] Odds can have any value from zero to infinity and they represent a ratio of desired outcomes versus the field. Odds are a ratio, and can be given in two different ways: ‘odds in favor’ and ‘odds against’. ‘Odds in favor’ are odds describing the if an event will occur, while ‘odds against’ will describe if an event will not occur. If you are familiar with gambling, ‘odds against’ are what Vegas gives as odds. More on that later. For the coin flip odds in favor of a HEADS outcome is 1:1, not 50%."

you say text book quote was correct except the bit i added at the end...I did NOT add anything ,I cut and pasted the complete thing,as was,no changes.

from a different on line text book (note the final line) note, I have NOT added anything

"Probability is defined as the fraction of desired outcomes in the context of every possible outcome with a value between 0 and 1, where 0 would be an impossible event and 1 would represent an inevitable event. Probabilities are usually given as percentages. [ie. 50% probability that a coin will land on HEADS.] Odds can have any value from zero to infinity and they represent a ratio of desired outcomes versus the field. Odds are a ratio, and can be given in two different ways: ‘odds in favor’ and ‘odds against’. ‘Odds in favor’ are odds describing the if an event will occur, while ‘odds against’ will describe if an event will not occur. If you are familiar with gambling, ‘odds against’ are what Vegas gives as odds. More on that later. For the coin flip odds in favor of a HEADS outcome is 1:1, not 50%."