Which of the following is NOT one of the four parameters needed to make an estimate for the FAIR model?

In the FAIR model, the four parameters required to make an estimate typically include a minimum value, a most likely value, and specific confidence levels related to those values. The minimum and most likely values serve to define a range for potential loss.

While there is a need to assess the uncertainty surrounding the values, such as how much confidence one may have in the minimum and most likely values, the model does not explicitly require a distinct level of confidence solely in the most likely value itself. Instead, confidence is usually assessed in relation to the range of the estimates. Therefore, the parameter that does not fit within the standard structure needed for estimating risk in the FAIR model is the one concerning the level of confidence in the most likely value. This parameter, while potentially useful, is not one of the core components needed to create a FAIR estimate.