👉 The term "loglike" is used in statistics and machine learning to denote a measure of the relative improvement of an estimator compared to a true or actual estimator. It represents the difference between the observed result and the expected outcome, assuming that the estimator is unbiased. In simpler terms, it's like comparing how much better your guess (the estimator) is than what you would have gotten if you had just looked at the data without making any assumptions about the underlying parameters.
