The basic difference is that the odds ratio is a ratio of two odds (yep, it's that obvious) whereas the relative risk is a ratio of two probabilities (The relative risk is also called the risk ratio) Let's look at an example Relative Risk/Risk Ratio Suppose you have a school that wants to test out a new tutoring program The Relative Risk Ratio and Odds Ratio are both used to measure the medical effect of a treatment or variable to which people are exposed The effect could be beneficial (from a therapy) or harmful (from a hazard) Risk is the number of those having the outcome of interest (death, infection, illness, etc) divided by the total number exposed to Odds ratios approximate risk ratios when the outcome under consideration is rare but can diverge substantially from risk ratios when the outcome is common In this paper, we derive optimal analytic conversions of odds ratios and hazard ratios to risk ratios that are minimax for the bias ratio when outcome probabilities are specified to fall in
Relative Risk Odds Ratios Youtube
