Odds

Let us see how we define Probability in terms of Odds.

Odds in favour = $\frac{N u m b e r o f f a v o u r a b l e c a s e s}{N u m b e r o f u n f a v o r a b l e c a s e s}$

Odds against = $\frac{N u m b e r o f u n f a v o u r a b l e c a s e s}{N u m b e r o f f a v o r a b l e c a s e s}$

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Last updated on Nov 5, 2020