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the odds in favour of occurrence of an event are 5:313. find the probability that it will occur.

$Given that the odds in favour of an event is 5:313 \Rightarrow \frac{P (E)}{P (\bar{E})} = \frac{5}{313} \Rightarrow 313 P (E) = 5 (1 - P (E)) \Rightarrow 313 P (E) = 5 - 5 P (E) \Rightarrow 318 P (E) = 5 \Rightarrow P (E) = \frac{5}{318}$

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