Transit Probability Formula:
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Definition: This calculator estimates the probability of a transit event occurring based on the event factor and event occurrence values.
Purpose: It helps researchers and analysts determine the likelihood of transit events in various scenarios.
The calculator uses the formula:
Where:
Explanation: The event factor is multiplied by the event occurrence to calculate the probability of the transit event.
Details: Proper probability estimation helps in planning, risk assessment, and decision-making for transit-related projects and studies.
Tips: Enter the event factor and event occurrence values. Both values must be ≥ 0. The result will be capped at 1 (100% probability).
Q1: What is the event factor (k)?
A: The event factor represents the base probability multiplier for the specific type of transit event being considered.
Q2: What does event occurrence (E) represent?
A: Event occurrence represents the frequency or likelihood component of the transit event.
Q3: Why is the result capped at 1?
A: Probability values cannot exceed 1 (100%) in standard probability theory.
Q4: Can I use this for different types of transit events?
A: Yes, but you'll need to determine appropriate values for k and E for each specific transit scenario.
Q5: How precise are the results?
A: Results are displayed with 4 decimal places, but actual precision depends on the accuracy of your input values.