Kea wrote: > Hello, > I have two question regarding the definition of "odds": > > 1. Which statistical technique do the "odds" correspond to? Is it > related to the Bayes Theorem, or can it be considered as some special > form of probability?
an alternative way of expressing probability ... "odds"= probability/(1-probability) excepot that you should really distinguish between "odds for" and "odds against" an event, one being the reciprical of the other. Certain models for the probability in a Binomial distribution are formulated so that "odds" , or more usually log of "odds", is a linear function of explanatory variables. > > 2. Who introduced it to the literature? ? , but it has a long history particularly in bookmaking (turf accountants, etc.). Some recent work on presenting probabilistic results to the general public suggests that "odds" are better/ more easiliy/ more generally understood than probability. > > Many thanks in advance... > > Kea. David Jones . . ================================================================= Instructions for joining and leaving this list, remarks about the problem of INAPPROPRIATE MESSAGES, and archives are available at: . http://jse.stat.ncsu.edu/ . =================================================================
