Specifying Odds., if The probability of occurrence can be stated in terms .of Odds. Odds is the number of chances that a particular reading willoccur when the error limit is specified. Forexample, if the error limits are specified as± 0.6745 0″, the chances ure that 50% of the observations will lie between the above limits or in other words we can say that odds are 1 to 1.

The odds can’ be .calculated by the following’ formula, I.:>. robabiilliity O’f.o.ccurence .=. do’ddsds 1

Uncertainty