Likelihood
Likelihood is a statistical concept that refers to the probability of observing a set of data given a specific hypothesis or model. It is used to assess the plausibility of different models or hypotheses based on the observed data. In other words, likelihood is a measure of how well a model fits the data. The likelihood function is a mathematical function that describes the probability of observing the data given the model parameters. Maximum likelihood estimation is a common method used to estimate the parameters of a model by finding the values that maximize the likelihood function. Likelihood is an important concept in many areas of data science, including machine learning, statistical inference, and Bayesian analysis.
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