Unit 8 - Introduction to odds and probability

In this quick video, we talk about odds and probability. There is no R programming, but don't worry, we'll get back to that soon enough.

Download the video introduction to odds here.

But, please watch the video first!

Review of and comments on the video:

If you really want to see that algebra :

θ = p/(1-p), so

θ(1-p) = p, or

θ - θp = p, so that

θ = p + θp = p(1+θ), from which we get:

θ/(1+θ) = p

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