Probability ranges between zero and one Odds is a ratio of the likelihood of an event happening compared to the likelihood of an event not happening Odds can be zero or any positive number (not just values between 0 and 1) So the probability ofProbability of Winning = () or % Losing = () or % Odds (Safety) = 12/72 = 1787 Now get out your calculator, because you'll see how these relate to each other Odds (Accident) = Pr (Accident)/Pr (Safety) = 053/947 Understanding Probability, Odds, and Odds Ratios in Logistic Regression Despite the way the terms are used in common English, odds and probability are not interchangeable
Relative Risk Ratios And Odds Ratios
