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.
Definition of probability. â¢â¢ Probability â is a measure or estimation of how likely it is that something will. happen or that a statement is true. Probabilities are given a value between 0 and 1. (0% chance or will not happen) and 1 (100% chance or will happen). The higher the. degree of probability, the more likely the event is to happen.