<u>The odds are 2 : 23, or about 0.09 : 1 (0.09 to 1).</u>
Explanation:
The <em>odds </em>of an event is the ratio of occurrence to non-occurrence of the event.
When you know the <em>probability</em> of an event, then you can calculate the odds by dividing the probability of occurence by the probability of non-occurrence.
Calling p the probability that an event will happen, 1 - p is the probability that it will not happen and the odds will be:
Odds = p / ( 1 - p)
You have p = 8% = 0.08, and 1 - p = 1 -0.08 = 0.92.