In previous chapters we have seen several kinetic diagrams representing various molecular states and transitions between these states due to conformational changes and the binding or unbinding of ligands. Up to this point we have assumed a large number of molecules and written rate equations consistent with these transition-state diagrams. But how should we interpret a transition-state diagram when we are considering only a single molecule or a small number of molecules? The short answer to this question is that transition rates can be interpreted as transition probabilities per unit time.
Smith, G. D. (2007). Modeling the Stochastic Gating of Ion Channels. In Computational Cell Biology (pp. 285–319). Springer New York. https://doi.org/10.1007/978-0-387-22459-6_11