Odds

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• Odds are another common way to express a level of
  confidence about an outcome.
• Very similar to probabilities
• More common in sports

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• In probability theory and statistics the odds in
  favour of an event or a proposition are the
  quantity p / (1 - p), where p is the probability
  of the event or proposition.
• For example, if you chose a random day of the
  week, then the odds that you would choose a
  Sunday would be 1 to 6.
• The probability in favour of choosing a Sunday
  would be 1/7.
• The odds against you choosing Sunday are
• 6 to1.

Stanley
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• 1. Detroit Red Wings -- 3-1The Red Wings
  rightfully have drawn considerable praise for
  masterful work in making the transition from
  relative free-spending to the cap age, but it
  will take another Stanley Cup to completely
  validate all of that. The only reason the Wings'
  odds aren't shorter is that goalie Dominik Hasek
  will have to prove he can hold up physically
  through the two-month run. For all the Wings'
  strength as a puck-moving, puck-control team
  playing keep-away, does anyone think they can win
  a second time with Chris Osgood in the crease?
• 2. Anaheim Ducks -- 6-1The defending champs
  face serious roadblocks in the West again -- and
  not just the Red Wings. But with Scott
  Niedermayer and Teemu Selanne back from their
  sabbaticals, and Ryan Getzlaf and Corey Perry
  coming even more into their own, and
  Jean-Sebastien Giguere proven as a money goalie,
  they're big-time threats to repeat unless Chris
  Pronger has too many postseason cases of
  team-hurting brain lock or Todd Bertuzzi's bad
  karma tips the balance.
• 3. San Jose Sharks -- 8-1The Sharks are the
  hottest team in the league, and the addition of
  Brian Campbell at the deadline added a dimension
  that nudged them to another level. It would help
  if Patrick Marleau, who got going in the second
  half, cranks it up even more in the postseason.
• 4. Pittsburgh Penguins -- 9-1It might be a case
  of beat 'em this season or maybe forget about it
  for at least a couple of years. The cap era makes
  it tough to even get a dynasty debate started,
  much less maintain a dynasty, and this roster is
  going to be difficult to hold together as it
  matures. But Sidney Crosby, Evgeni Malkin, Sergei
  Gonchar Co. are the favorites to come out of
  the East.

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• 13. Ottawa Senators -- 50-1The defending Eastern
  Conference champions pulled off one of the
  biggest collapses in recent memory, and I suppose
  you could argue that if they awaken and knock off
  the Penguins, that will mean they've snapped out
  of it and their 2007 experience will come into
  play. But Daniel Alfredsson's and Mike Fisher's
  knee injuries are the last straws in a bizarre
  season.
• 14. Boston Bruins -- 60-1The banged-up Bruins
  did a good job under coach Claude Julien just to
  get here, but it won't last long.
• 15. Washington Capitals -- 100-1It's a great
  story for the league with Alexander Ovechkin
  taking his refreshing act -- so much talent with
  showmanship that hasn't (yet) gone over the top
  -- into the postseason, but it won't last long.
• 16. Nashville Predators -- 150-1Given the
  offseason mess, it's amazing the Predators made
  the playoffs -- and just being competitive
  against the Red Wings would add to the
  accomplishment.

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• A sock drawer contains three red, five white, and
  four black socks.
• Event A picking a red sock
• P(A) 3 / 12
• 1/4

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• A sock drawer contains three red, five white, and
  four black socks.
• Event A picking a red sock
• Odds in favour of A
• 3 to 9 or
• 1 to 3

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• If the odds in favour of event A are h to k,
  then

P(A) h
h k
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• Pg 318
• 1-5, 9,12