How to make odds ratio graph?
Does anyone have any idea how you work out what the correct score odds in a soccer game should be with only the match odds and say the over/under 2.5 goal odds to work them out ? Does it have something to do with a Poisson calculation? I know its possible as the bookies must do it to set odds in the first place. I'm looking for misaligned prices to back / lay.
I am trying to to use excel to calculate how much to bet depending on varying odds to always get a profit of 100 back.but I have been struggling to get the formula right and would really appreciate someone's help!
Basically, if the decimal odds is 2.00 and I want to make a hundred pounds profit I would have to bet £100, but how do I make a formula in excel that calculates this for me so that I can do it for any odds? It seems so simple, but yet I can't seem to get my head around it.
I'm trying to display a ratio in my spreadsheet to show the "odds" but I want it to calculate as its decimal, so if I had 1:20 written in it then I want 0.05 to be the value of the cell when I use it in a formula. Is there any way to do this? So far I've only gotten it to show up as a ratio by typing '1:20 with the apostrophe in front of it.
I am looking for a way to add labels to my chart that indicates sample size. I know you may add data-labels but it is not what I want to do, I have my data that represent a ratio and it is important to me to visualize the sample size of that ratio (i.e. the denominator of that ratio).
I've got a series of values (calibration standards) and have made a line of best fit with them os area ratio against drug concentration, now I need to use this line to establish the concentration of unknowns from their area ratio
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