If odds are stated as an A to B chance of winning then the probability of winning is given as P W = A / (A B) while the probability of losing is given as P L = B / (A B) For example, you win a game if you pull an ace out of a full deck of 52 cards Pulling any other card you loseObtain the logodds for a given probability by taking the natural logarithm of the odds, eg,log(025)= or using theqlogisfunction on the probability value, eg,qlogis(02)= Lastly, using the American methodology, Australia's odds to win the 15 ICC Cricket World Cup is 250 Therefore, the implied probability equals 7143% ( 2
Logistic Regression Calculating A Probability
