ELI5: Explain Like I'm 5

Likelihood-ratio test

A likelihood-ratio test is a way to compare two models or descriptions of data. It helps us decide which one is a better fit. Think of it as if you were comparing two different recipes for making a cake. You could use the likelihood ratio test to decide which recipe gives you the best cake. The test looks at the likelihood that one cake recipe is better than the other for describing the data. It can be used to compare the fit of different models or descriptions of data.