Contingency vs Likelihood - What's the difference?
contingency | likelihood |
(uncountable) The quality of being contingent, of happening by chance; unpredictability.
(countable) A possibility; something which may or may not happen. A chance occurrence, especially in finance, unexpected expenses.
(countable) An amount of money which a party to a contract has to pay to the other party (usually the supplier of a major project to the client) if he or she does not fulfill the contract according to the specification.
(logic, countable) A statement which is neither a tautology nor a contradiction.
The probability of a specified outcome; the chance of something happening; probability; the state of being probable.
(statistics) The probability that some fixed outcome was generated by a random distribution with a specific parameter.
Likeness, resemblance.
(archaic) Appearance, show, sign, expression.
As nouns the difference between contingency and likelihood
is that contingency is (uncountable) the quality of being contingent, of happening by chance; unpredictability while likelihood is the probability of a specified outcome; the chance of something happening; probability; the state of being probable.contingency
English
(wikipedia contingency)Noun
Synonyms
* (quality of happening by chance) possibility * See alsoAntonyms
* (quality of happening by chance) inevitability, impossibilityCoordinate terms
* (statement which is neither a tautology nor a contradiction) contradiction, tautologyDerived terms
* contingency planlikelihood
English
Noun
(Likelihood function)- In all likelihood the meeting will be cancelled.
- The likelihood is that the inflation rate will continue to rise.
- "There is no likelihood between pure light and black darkness, or between righteousness and reprobation." (Sir W. Raleigh)
- "What of his heart perceive you in his face by any likelihood he showed to-day ?" (Shak)