I’ll focus just on the ten 7% chances and then compare to a single 70% chance.
Having something happening after ten times is the opposite of avoiding something happening ten times.
If you have one go, the chance of something happening is 7%, and the chance of avoiding it is 93%. The chance of avoiding it with two goes, means avoiding it the first AND second time, which is 93% x 93%. So this is 86.49% chance of avoiding it after two goes. This means after two goes, the chance of something happening is 13.51%. Crucially, the chance of something happening with two attempts has gone up because you could have either have the something happen on the first *or* the second go.
With more and more attempts, the odds of avoiding the thing happening goes down. Therefore, the odds of it happening goes up. After ten attempts, your odds of something happening is about 52%. So you have a 52% chance, rather than a 70% chance from the single go.
It turns out that you would need 16-17 attempts for a 7% chance to be equal to the single 70% chance.
You can carry this logic on. If you had infinitely many goes at something happening, with each attempt having a probability of 7%, you would expect the odds of the something happening to be 100%. (Likewise, if you had no attempts, your chance of the something happening would be 0%.)
imagine a lottery where u have 10 tickets each with 7% chance of winning
what are the chances of u not winning with any of these tickets?
it would be 0.93*0.93*0.93*0.93*0.93*0.93*0.93*0.93*0.93*0.93=48%
thus the chance of u winning atleast one of them is 52%. This is much lower than 70% but there is also a possibility of u winning this lottery multiple times.
The Probability of a 70% chance event occuring is 70%. Easy peasy
The probability of a 7% chance occuring at least once in 10 try’s is 100% – [The chance that it doesn’t]
The chance you try the 7% event 10 times and never “hit” is 93%^10=48% ; which means you have a 52% chance of hitting
So in other words: A Single 70% chance is 70%, but Ten 7% chances is only 52% which is very different.
Take an extreme example of that question. Whats the difference between a 100% chance and two 50% chance? Would you rather have a 100% chance of getting a million dollars, or two 50% chances of a million dollars? The first case you get 1million dollars no matter what. The second case You have 25% chance of no money, 50% chance of 1 million and 25% chance of 2 million.
It depends on the situation. If you’re talking about OR probabilities (i.e. P(A or B)) and the events are mutually exclusive, then then we’d just add the individual probabilities and get 0.07+0.07… 0.07=10*0.07=0.7. But if the events aren’t mutually exclusive (i.e. more than one of them can happen) we have to subtract the compound probability. That is, the general rule for OR probabilities is P(A or B) = P(A)+P(B)-P(A and B). (If you wanna know why that’s the formula, Google “venn diagrams for or probability”; I’d post some diagrams here, but I’m on mobile).
On the other hand, if we’re talking about AND probabilities, they don’t combine by addition. If the events are independent (i.e. knowing that one event occurred or didn’t doesn’t effect the probability of the other events), then P(A and B) = P(A)•P(B). More generally, P(A and B)=P(A)•P(B|A)=P(B)P(A|B).
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