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.
A probability of 1 means that an event will always occur. A probability of 0,5 means that an event will occur half the time, or 1 time out of every 2. When all of the possible outcomes of an experiment have an equal chance of occurring, we can compute the exact theoretical probability of an event.