Probability and Odds

Before we move on to work with logistic regression, we must clearly understand these essential statistical concepts.

Probability

Probability describes the likeliness of some event happening or occurring on a numerical scale between 0 (impossible) and 1 (sure). The higher the probability is, the more likely the event will occur. Tossing a fair coin or rolling a dice and expecting how often we’ll get heads or a certain number on a dice is simply the outcome divided by the total options or possibilities.