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Intro to Statistics - Risk, Odds, Relative Risk and Odds Ratio
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How is risk calculated?
How is risk calculated?
Number of favourable outcomes / Total number of possibilities
How is odds calculated?
How is odds calculated?
Number of favourable outcomes / number of unfavourable outcomes
If a bag has 3 blue balls and 7 red balls, what is the probability (risk) of picking a blue ball?
If a bag has 3 blue balls and 7 red balls, what is the probability (risk) of picking a blue ball?
3 / 10 = 0.3 = 30%
Can odds be expressed as a percentage?
Can odds be expressed as a percentage?
No. Only risk can be expressed as a percentage.
If relative risk is greater than 1, what does this mean for odds ratio?
If relative risk is greater than 1, what does this mean for odds ratio?
If relative risk is greater than 1, odds ratio will also be greater than 1
(If odds ratio is greater than 1, relative risk will also be greater than 1)
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