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Empirical Probability

 
Sci-Tech Dictionary: empirical probability
(em′pir·ə·kəl ′präb·ə′bil·əd·ē)

(statistics) The ratio of the number of times an event has occurred to the total number of trials performed. Also known as a posteriori probability.


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Insurance Dictionary: Empirical Probability
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Mathematical relationship resulting from experimentation. For example, the Probability Distribution for the possible number of heads from four tosses of a fair coin having both a head and a tail can be calculated from experimentation and observation by allowing for the accumulation of empirical data.

 
 

 

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Sci-Tech Dictionary. McGraw-Hill Dictionary of Scientific and Technical Terms. Copyright © 2003, 1994, 1989, 1984, 1978, 1976, 1974 by McGraw-Hill Companies, Inc. All rights reserved.  Read more
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