probability

(redirected from probabilistic)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia.
Related to probabilistic: probabilistic sampling, probabilistic model, Probabilistic reasoning

Probability

The relative likelihood of a particular outcome among all possible outcomes.

probability

the likelihood of a particular uncertain event occurring, measured on a scale from 0.0 (such an event is impossible) to 1.0 (such an event is certain to occur). People generally estimate probabilities on the basis of the relative frequency with which an event has occurred in the past, under given circumstances, and generalize from this past experience. In some circumstances it is easy to estimate the proportion of occasions on which an event occurs; for example, the probability of getting ‘heads’ when flipping a balanced coin is 0.5 because with such a coin in the long run we would get 50% ‘heads’ and 50% ‘tails’. In estimating probabilities in business situations, though, there may be no or only a few previous experiences that can be used to gauge the relative frequency of an event occurring. See also RISK AND UNCERTAINTY.
References in periodicals archive ?
Proposals For The Probabilistic Genotyping Software Must Have, At A Minimum, The Following Updated Contents: 1.
The chapter four is the crux of the book that explains the probabilistic models in detail.
Some generalized probabilistic weighted average operator with linguistic information
In this paper, some necessary definitions of sticker system and probabilistic sticker system are stated.
The EPM/NSA team offers the talent and experience necessary to address these issues in key areas of hazards analysis, seismic hazards, seismic margins, fragility analysis and probabilistic risk assessment.
probabilistic characteristics of the parameters of ice regime and drifting ice features;
A PA A is called probabilistic deterministic finite state automaton, if
Some gamers may have superior probabilistic inference skills to begin with, but Bavelier says her other findings indicate that playing action games amplifies an ability to analyze sensory information.
Graphical models have had a transformative impact across many disciplines-including statistics, machine learning, epidemiology and psychology-and they are the foundation of the recent emergence of a branch of cognitive science representing probabilistic relationships, such as those between symptoms and diseases, and skills and earnings.
The analysis is based on a probabilistic model of UK house prices developed by PwC that allows the uncertainties in key drivers such as household income growth, interest rates and housing supply to be taken into account.
Are the differences in NPV significant as calculated by traditional cash-flow models versus your probabilistic model?