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.
In theoretical probability, a mathematical model is used to determine the behaviour responses to an event within the considered sample or the population. Consider a bag containing 3 blue balls, 3 red balls, and 4 Yellow balls. If we calculate the probability of getting a red ball using probability theory, it is 3/10.