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.
Probability Definition. The probability of an event is a number between $0$ to $1$ which measures the chance of that event occurring. The likelihood of the occurrence of the event increases as the probability varies from $0$ to $1$. The probability of the occurrence of an impossible event is $0$ and that of a certain to occur event is $1$.