The probability that the event would occur is 0.125
How to determine the probability?
The odds against is given as:
Odds against = 7 : 1
The probability that the event would occur is then calculated as:
P = 1/(1 + 7)
Evaluate the sum
P = 1/8
Evaluate the quotient
P = 0.125
Hence, the probability that the event would occur is 0.125
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