Event Probability Value
(Redirected from probability value)
A event probability value is a unit interval real number that represents the Occurrence Likelihood/likelihood of some specific stochastic event occurrence (from some sample space)
- AKA: Occurrence Likelihood, Probability Number.
- Context:
- It can be the output of a Probability Function.
- It can range from being Rare Event (probability close to 0) and Common Event (probability close to 1).
- It can be a member of a probability value set, such as a Probability Distribution.
- It can be associated with a Random Experiment Event.
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- Example(s):
- a Success Probability.
- 1/6 is the probability that a Dice-Roll Experiment will result in the number 5.
- 1/4 is the probability that a Two-Dice Experiment will result in two Odd Numbers.
- a Conditional Probability Value, associated with a Conditional Probability Function and Prior Knowledge of an Event Member.
- a Marginal Probability Value, associated with a Conditional Probability Function and NO Prior Knowledge of an Event Member.
- a Failure Probability Value.
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- Counter-Example(s):
- a Likelihood Score/Confidence Score.
- a Prediction Confidence Score, which is empirically determined.
- See: Probability Distribution, Joint Probability Table, Random Experiment, Random Variable, Probability Distribution Family.