I just want to make sure that I am doing this correctly, and am hoping you guys can tell me if my thinking is correct. Thanks in advance!
If the chance of an outcome is 7/100
Then the chance of not having the outcome must be 93/100
So can I say that if I were to try an event x number of times, each time with a 7/100 chance of getting the outcome, i would have a (93/100)^x chance of not getting the outcome every single time?
And if so, does that give me approx. a 50% chance of getting the outcome if I try 10 times?
Please let me know if I'm thinking through this correctly or if there is anything I have missed; I just randomly thought of this today and it seems "iffy"