Plausible:
- Focus on what is reasonable or believable based on evidence: use of commonsense, experience, and general knowledge to derive inference
- Does not have to be numerical probabilities: qualitative assessment of likelihood
- Often used in everyday decision-making and problem-solving: see dark clouds then you infer that it will rain
- Can be defeasible: new evidence that could contradict previous conclusions
Probabilistic:
- Uses numerical probabilities for uncertainty representation: specific probabilities to outcomes of events
- Relies on statistical methods and formal logic: based on mathematical models and calculations
- Is used in fields like science, engineering, and finance: weather forecasts use probabilistic models to forecast rainfall
- Can be more precise than plausible reasoning: requires more data and computation
