<prompt> What is meaning of Odds?It is the chance that some event will occurChance of frequency of occurrence of a characteristic relative to its non-occurrenceChance of frequency of non-occurrence of a characteristic relative to its occurrenceInverse of probability  <response>: Odds is Chance of frequency of occurrence of a specific event, relative to its non-occurrence Odds Probability 1- probability Eg: Probability of Mr. Ram developing MI in his lifetime is 75 , what are odds of developing MI 0.75 0.25 3:1 