Likelihood is a function of how likely an event is, which is weaker than probability (or odds in favor).
In statistics, a likelihood function is a function of the parameters of a statistical model, defined as follows: the likelihood of a set of parameter values given some observed outcomes is equal to the probability of those observed outcomes given those parameter values. Likelihood functions play a key role in statistical inference, especially methods of estimating a parameter using a statistics (a function of the data).
Read more about this topic: Likelihood
Famous quotes containing the words likelihood and/or function:
“What likelihood is there of corrupting a man who has no ambition?”
—Samuel Richardson (1689–1761)
“The mother’s and father’s attitudes toward the child correspond to the child’s own needs.... Mother has the function of making him secure in life, father has the function of teaching him, guiding him to cope with those problems with which the particular society the child has been born into confronts him.”
—Erich Fromm (1900–1980)