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PROBABILISTIC Definition & Legal Meaning

Definition & Citations:

A model or situation with various outcomes, each with its own chances of occuring. On the other hand stochastic is the concept of randomness. Probabilistic is indirectly related to randomness. As such, both terms are considered to be synonymous by many. When a natural event occurs, it is said to stochastic in nature. Whereas a mathematical analysis of the occurence is probabilistic.


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