Number of successes
Probability = —————————————————————-------------------
Number of success + Number of failures
Odds in favor = Number of successes : Number of failures
[Read the colon : as the word "to"]
Odds against = Number of failures : Number of successes
Ofentimes you will see Odds expressed so that it is "something to one"
To express it "to one" form:
Number of successes
Odds in favor = ————————————————————— : 1
Number of failures
Number of failures
Odds against = ———————————————------ : 1
Number of successes
So the abreviations for the above formulas:
S
P = —————
S+F
Odds in favor = S:F
Odds against = F:S
if the probability is .18
then .18 = 18/100 = 9/50 so S = 9 and S+F = 50
So F = 50-S = 50-9 = 41
So Odds in favor = S:F or 9:41
Odds against = 41:9
Or you can divide 41 and 9 by 9 and get
Odds against = 4.6 to 1.
Edwin