👉 Odds computing is a statistical method used to estimate the probability of an event occurring, particularly in situations involving uncertainty or incomplete information. It calculates the odds ratio, which is the ratio of the probability of an event happening to the probability of it not happening. Odds are expressed as a fraction or a decimal, where odds greater than 1 suggest a higher likelihood of the event occurring, while odds less than 1 indicate a lower probability. Odds computing is widely used in fields like medicine, finance, and social sciences to make informed decisions under uncertainty by providing a more intuitive measure of risk compared to probabilities alone.
