In a medical study, you are modeling the odds of a particular disease based on several risk factors. How would you interpret the Odds Ratio in this context?
- As a measure of model accuracy
- As a measure of the correlation between variables
- As a measure of the effect of risk factors on the odds of the disease
- As a measure of the effect of risk factors on the probability of the disease
In this context, the Odds Ratio would be interpreted as the effect of a one-unit increase in a risk factor on the odds of having the disease. It quantifies the relationship between the predictors and the response.
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