Ping1D confidence meaning

Hello, after searching through the documentation and forum, I haven’t been able to find a specific explanation about what the confidence values are based on, beyond that it’s the probability that the measurement is of the largest object.

It would be interesting to know what it’s based on to understand if there could be a larger margin in distance, the existence of another possible target, or some other factor, as well as to determine how negative a measurement of 50% is, for example.