MAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Saturday, February 23, 2002 9:49 AM
Subject: Re: odds vs probabilities
> probabilities. I know that probs have a problem in that they don't
> make multiplicative sense:
On 23 Feb 2002 06:49:58 -0800, [EMAIL PROTECTED] (Brad Branford)
wrote:
> hi,
>
> thanks. sorry if I posed the question poorly. actually, what I'm
> looking for is an intuitive understanding of when to use odds and when
> probabilities. I know that probs have a problem in that they don't
> make
hi,
thanks. sorry if I posed the question poorly. actually, what I'm
looking for is an intuitive understanding of when to use odds and when
probabilities. I know that probs have a problem in that they don't
make multiplicative sense: for instance, assume I have a probability
of winning of 55%; i
Odd is defined to be
P(event)
---
1- P(event)
So if P(event) is 0.50, then the odd is 1 to 1. If P(event) is 0.75, then the
odd is 3 to 1 since 0.75 is three times as large as 1 - 0.75 = 0.25.
Given one of odds or probabilities, you can always derive the other.
Ken
hi,
I'd appreciate an intuitive explanation of the difference between odds
and probabilities.
thanks.
brad
=
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