Is the exact value of any likelihood meaningless? While reading about likelihood, I have heard that "the exact value of any likelihood is meaningless" why?
So, because of that we may use the likelihood ratio.
So, my question is, why the exact value of likelihood is meaningless? And what is the benefit of likelihood-ratio over the likelihood?

When we use likelihood then we are comparing probability (density) of the data given a certain hypothesis/theory.
The actual probability is not important. It can actually become extremely small. Imagine that you are testing whether a coin is a fair coin and you observe 1000 000 flips with 500 000 heads and 500 000 tails. If the coin is fair (equal head and tails probability), then the probability of this particular observation is 00.0007978844.
