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out of 13 men, 12 are bald?
12/13
P(a man is bald by 60)
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12/13
P(a man is bald by 60)
Probability = Odds in Favor / (Odds in Favor + Odds against)
In this case, the odds in favor are 12 to 1, which means for every 12 favorable outcomes (being bald), there is 1 unfavorable outcome (not being bald).
Using the formula, we can calculate the probability:
Probability = 12 / (12 + 1)
= 12 / 13
Hence, the probability that a man will be bald by the time he is 60 is 12/13.