What is meaning of Odds?
Odds is Chance of frequency of occurrence of a specific event, relative to its non-occurrence Odds = Probability/ 1- probability Eg: Probability of Mr. Ram developing MI in his lifetime is 75% , what are odds of developing MI = 0.75/ 0.25 = 3:1
It is the chance that some event will occur
Chance of frequency of occurrence of a characteristic relative to its non-occurrence
Chance of frequency of non-occurrence of a characteristic relative to its occurrence
Inverse of probability
Sampling