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What are «odds» in probability theory?

mathematics
theory
glossary
probability-theory
(Dmitry Fedyuk) #1

Odds are a numerical expression, usually expressed as a pair of numbers, used in both gambling and statistics.

In statistics, the odds for or odds of some event reflect the likelihood that the event will take place, while odds against reflect the likelihood that it will not.

en.wikipedia.org/wiki/Odds

What is the «likelihood function»?