A Priori Probability
Also found in: Dictionary, Medical, Acronyms, Encyclopedia.
Related to A Priori Probability: conditional probability, A posteriori probability, Empirical probability, Subjective probability
A Priori Probability
In statistics, the use of logic to estimate the probability of an event. For example, when considering a company's earnings, the company can make a profit, suffer a loss, or break even in a given year. All other things being equal, there is a 1/3 a priori probability of each scenario occurring.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved