Likelihood Ratios & Odds vs. Proability
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Likelihood Ratios & Odds vs. Proability
What's the difference between probability and odds? Odds is the ratio of event happening vs not happening, while probability is a fraction of the total. Fagan nomograms can help us translate from pre-test to post-test probability using likelihood ratios! Rule of thumb when using likelihood ratios: LR = 1-2 considered weak LR = 2-5 considered ...
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