RISK AND ODDS DEFINITIONS "Risk" refers to the probability of occurrence of an event or outcome Statistically, risk = chance of the outcome of interest/all possible outcomes The term "odds" is often used instead of risk "Odds" refers to the probability of occurrence of an event/probability of the event not occurringSince relative risk is a more intuitive measure of effectiveness, the distinction is important especially in cases of medium to high probabilities If action A carries a risk of 999% and action B a risk of 990% then the relative risk is just over 1, while the odds associated with action A are more than 10 times higher than the odds with BWhen events are common, as is often the case in clinical trials, the differences between odds and risks are large For example, a risk of 05 is equivalent to an odds of 1;
Odds Ratio The Odds Ratio Is Used To Find The By Analyttica Datalab Medium
