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WordNet-Online
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Definitions from the WebOdd RatioOdd ratio is a statistical measure that quantifies the relationship between two events or variables. It is commonly used in various fields such as finance, sports, and medicine to analyze the likelihood of an event occurring in relation to another event. Sense 1: Statistical MeasureIn statistics, odd ratio refers to the ratio of the probability of an event occurring to the probability of the event not occurring. It provides insights into the strength and direction of the relationship between the two events or variables. Sample Sentence 1: The odd ratio of winning the lottery is 1 in a million. Sample Sentence 2: The researchers calculated the odd ratio to determine the risk factors for the disease. Sense 2: Betting and GamblingIn the context of betting and gambling, odd ratio represents the ratio of the amount of money that can be won in a bet to the amount of money staked. It is commonly used by bookmakers to set the odds for different outcomes. Sample Sentence 1: The odd ratio for Team A winning the match is 3:1. Sample Sentence 2: He placed a bet with excellent odd ratio on the underdog team. Related ProductsExplore the following related products on Amazon: | ||||
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