That's what MBAs say when asked what the degree has done for them. It gave me a broad perspective of the business world -- how the economy works [and] how my industry works, says Susan Odegaard Turner, founder of Thousand Oaks, California-based consultancy Turner Healthcare Associates.
Theoretical probability is the probability of an event when all outcomes are equally likely. With theoretical probability, you determine the probability by dividing the number of ways the event can occur by the total number of equally likely outcomes. Theoretical probability is the probability of an event when all outcomes are equally likely.
It can also be used in socioeconomic research. Theoretical probability is also used in certain research and businesses. Summary: 1.Experimental probability measures the ratio of outcome vs. attempt while theoretical probability measures the favorable or wanted outcome vs. the possible outcome.