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Definition: Probability
Category: OECD - Data and Metadata Reporting
A probability is similar to a rate, the difference being that the denominator comprises all those objects in a given population at the beginning of the period of observation. For example: If 10 people die in one year out of a population of 1 000 at the start of a year, the probability of dying during that year was 10/1 000, or 0.01000. http://ec.europa.eu/eurostat/ramon/coded_files/OECD_data_metadata_report_handbook_EN.pdf
Source:
Palmore, J., Gardner, R.W., 1994, "Measuring mortality, fertility and natural increase: a self teaching guide to elementary measures", East-West Centre, Honolulu, Hawaii [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
Palmore, J., Gardner, R.W., 1994, "Measuring mortality, fertility and natural increase: a self teaching guide to elementary measures", East-West Centre, Honolulu, Hawaii [quoted in Organisation for Economic Co-operation and Development (OECD), "Data and Metadata Reporting and Presentation Handbook", OECD, Paris, 2007]
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