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.
Experimental and Theoretical Probability. Probability is the mathematics of chance. Probability is used to describe the predictable long-run patterns of random outcomes. For instance, if you toss a fair coin a single time, the outcome (heads or tails) is completely random and unpredictable.robability is the mathematics of chance. Probability is used to describe the predictable long-run patterns of random outcomes. For instance, if you toss a fair coin a single time, the outcome (heads or tails) is completely random and unpredictable.