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May 10, 2020 · An odds ratio is a measure of the relative risk of an outcome in one population compared with a different population, where odds ratios greater than one indicate the outcome is more likely while less than one is less likely.
The odds ratio is a versatile and robust statistic. For example, it can calculate the odds of an event happening given a particular treatment intervention (1). It can calculate the odds of a health outcome given exposure versus non-exposure to a substance or event (2).
- Mary L. McHugh
- 2009
To summarize, the probability that an event happens is the number of outcomes that qualify as that event (i.e. the number of ways the event could happen) compared to the total number of outcomes (i.e. how many things are possible).
The importance of probability in making informed predictions about events, such as academic success or weather conditions, is highlighted. This section introduces the concept of probability as a crucial element in research, explaining how it quantifies the likelihood of various events occurring.
Odds Ratio (OR) The odds ratio is the probability (or odds) of an event happening expressed as a proportion of the probability (or odds) of the event not happening. When OR < 1: A decrease in the event happening. When OR = 1: No change. When OR > 1: An increase in the event happening.
Probability refers to the likelihood of an event occurring. It can be expressed as a number (0.5) or a percentage (50%). Statistical tests allow psychologists to work out the probability that their results could have occurred by chance, and in general psychologists use a probability level of 0.05.
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An odds ratio calculates the relationship between a variable and probability of an event occurring. Learn the formula and interpretation.
