The idea of basing an interval estimate on the relative likelihood goes back to Fisher in 1956 and has been used by many authors since then.

The definition of relative likelihood can also be generalized to compare different (fitted) statistical models.

Follow the link below to see a diagram that shows the relative likelihood and impact of a risk happening.

It is only used to predict the relative likelihood of action.

In addition, the method allows the relative likelihoods of alternative marker orders to be determined.

But its judgments of the relative likelihood and the strength of evidence pointing to the worst possibilities remain undisclosed.

Inconsistency - The analyst then seeks to draw tentative conclusions about the relative likelihood of each hypothesis.

Complexity and uncertainty preclude assessing the relative likelihood of any one of the three.

Draw tentative conclusions about the relative likelihood of each hypothesis.

Discuss the relative likelihood of all the hypotheses, not just the most likely one.