Final answer:
The odds ratio is defined as p/(1-p), where p is the probability of success. This formula represents the ratio of the probability of success to the probability of failure.
Step-by-step explanation:
The odds ratio is defined as p/(1-p), where p is the probability of success. This formula represents the ratio of the probability of success to the probability of failure.
For example, if the probability of success is 0.8, then the odds ratio would be 0.8/(1-0.8) = 0.8/0.2 = 4. This means that the odds of success are 4 times higher than the odds of failure.