0.7 is the new probability of the event being sold out given that total number of events is 7 and 5 events are sold out. This can be obtained by using the formula for probability.
Probability is the chance of occurrence of an event.
โ The formula for finding probability,
Probability = [tex]\frac{Number\ of\ favourable\ outcomes}{Total\ number\ of\ outcomes}[/tex]
Here it is given in the question that,
Therefore by using the formula of probability we get,
โ Probability (Junior Athletics being sold out) = [tex]\frac{Number\ of\ favourable\ outcomes}{Total\ number\ of\ outcomes}[/tex]
Probability (Junior Athletics being sold out) = [tex]\frac{Number\ of\ events\ sold\ out}{Total\ number\ of\ events}[/tex]
Probability (Junior Athletics being sold out) = 5/7
โ Probability (Junior Athletics being sold out) = 0.7
Hence 0.7 is the new probability of the event being sold out given that total number of events is 7 and 5 events are sold out.
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