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		<title>Probability and likelihood</title>
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		<description>tokecap's Blog: Probability and likelihood</description>
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			<title>Original Blog Entry: Probability and likelihood</title>
			<link>/blogentry/196557</link>
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			<pubDate>Fri, 09 Jan 2026 15:57:42 GMT</pubDate>
			<dc:creator>tokecap</dc:creator>
			<description><![CDATA[<p>People often mix up probability and likelihood , but they re not the same.<br /><br />Probability is used to predict outcomes when the model is known like lottery draws, dice, or cards where results can be calculated precisely.<br /><br />Likelihood works the other way around: after outcomes are observed, it s used to judge which explanation or model best fits the data, often in complex real-world situations like elections.<br /><br />Simply put:<br /><br />Probability predicts outcomes; likelihood evaluates explanations.</p>]]></description>
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			<category>tokecap</category>
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