As the name suggests, the odds ratio is used to calculate the odds of the occurring of an event. The mathematical version of this is required as this is used extensively to make various calculations in clinical research involving studies in which two groups have to be compared and evaluated. It is also used in epidemiology and for making cohort analyses. Although it is very similar to risk ratio, it is used extensively because it is easier to combine it with other statistics.
What Does The Odds Ratio Calculate?
It is basically used in statistical analyses and at places where there is one control group. In such instances, the result is known by comparing the outcomes on based on the variants. It is best understood through comparisons and experiments involving two variants. The odds of a possibility occurring because of one variant in the absence of another. Both the effects can be studied using odds ratio. The thing that differentiates it from risk ratio is that the variables vary in the same way when it comes to the effects of the variables while risk ratio can produce many results as it works in a different way.
It is extensively used in studies involving drugs and other statistics. Various drugs cause various side effects and so the likeliness of one event occurring by using different drugs is calculated using the odds ratio. While it can be done manually, it is more easily done with the odds ratio calculator.
The most relevant example would be studying an experiment in which the likelihood of lung cancer occurring in smokers and non-smokers is studied. As it can be seen that there are two variables such as lung cancer occurring in smokers and in on-smokers.