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To convert from a probability to odds, divide the probability by one minus that probability. So if the probability is 10% or 0.10 , then the odds are 0.1/0.9 or '1 to 9' or 0.111. To convert from odds to a probability, divide the odds by one plus the odds. The odds are defined as the probability that the event will occur divided by the probability that the event will not occur. If the probability of an event occurring is Y, then the probability of the event not occurring is 1-Y. |
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Chip Romig, MMR 423 |
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