1) The state of being likely or probable; a probability or chance of something.
From → likely + -hood a suffix denoting state, condition, character, nature, etc., from M.E. -hode, -hod, O.E. -hād (cf. Ger. -heit).
Šodvâri, noun of šodvâr, → likely.
Fr.: fonction de vraisemblance
A function that allows one to estimate unknown parameters based on known outcomes. Opposed to → probability, which allows one to predict unknown outcomes based on known parameters. More specifically, a probability refers to the occurrence of future events, while a likelihood refers to past events with known outcomes.
Fr.: maximum de vraisemblance
A statistical procedure based on choosing the value of the unknown parameter under which the probability of obtaining an observed sample is highest.