Odds
Odds are the ratio of the probability of an event occurring to the probability of its complement.
Grokking Machine Learning
Odds are the ratio of the probability of an event occurring to the probability of it not occurring.
- How it is used
- Uses odds to introduce log-odds scores for weak learners in AdaBoost.
- How deep it goes
- Defines odds with a formula, gives two probability examples, and notes their range before moving to log-odds.
- Examples
- Illustrates odds with rolling a 1 on a die and a horse winning three of four races.
- What you can do after
- Evaluate an event’s odds from its probability and distinguish odds from probability.
Statistics Every Programmer Needs
Odds express the ratio of the probability of an event to the probability of its complement.
- How it is used
- Expresses event likelihood as successes relative to failures when presenting or solving probability problems.
- How deep it goes
- Defines odds, supplies equivalent formulas, converts between odds and probability, and applies the distinction to dice and cards.
- Examples
- Uses coin flips, face cards, single-die outcomes, and two-dice events involving specified results and sums.
- What you can do after
- Apply probability formulas to convert between event probability and odds and solve elementary dice and card calculations.
Ensemble Methods for Machine Learning
Odds are the ratio of the probability of an event to the probability of its complement.
- How it is used
- Uses odds to interpret binary-classification predictions and logistic-regression feature effects.
- How deep it goes
- Develops the probability ratio, log-odds, sigmoid link, and coefficient multipliers, without formal derivations.
- Examples
- Uses betting odds, diabetes diagnosis, and breast-cancer diagnosis to explain odds and feature-weight effects.
- What you can do after
- Evaluate/understand logistic-regression coefficients by converting changes in log-odds into odds multipliers.
Read how Ensemble Methods for Machine Learning explains odds →
Related concepts
- probability theoryequivalent to · Probability theory is the branch of mathematics that formalizes uncertainty and analyzes random events and outcomes using probability measures.
- odds ratiomeasured by · An odds ratio is the ratio of the odds of an outcome under one condition or in one group to the odds under another condition or in another group.
- weightproduced by · A weight is a numerical quantity assigned to an element to represent its contribution, influence, importance, strength, or resource amount in a calculation or system.
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