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Statistics (75)
STAT 301 (55)
Lecture

2 Pages
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School
Department
Statistics
Course
STAT 301
Professor
Brett Hunter
Semester
Fall

Description
31 October Odds The odds of an event can be calculated as p Ô = 1−p If x is the # of successes and n is the total number of observations in a group, then the odds are x Ô = n−x Interpretation If odds are > 1, the outcome of interest is more likely to happen than not If odds are < 1, the outcome is not as likely to happen as all other possible outcomes If odds are = 1, there is a split between the outcome of interest and all other possible outcomes a Specifically, if odds b (or a:b), you are likely to get a successes for every b failures The odds ratio is Ô oddsfor category1 1 OR = oddsfor category2 = Ô 2 OR > 1 means that the outcome of interest is more likely in
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