What is theoretical probability?

Theoretical probability is a branch of mathematics that deals with predicting the likelihood of certain events happening based on a set of assumptions or rules. It is a way of using mathematical principles to calculate the chances of different outcomes in a given situation.

In theoretical probability, probabilities are determined based on assumptions or rules rather than actual experimentation or observation. For example, if you roll a fair six-sided die, the theoretical probability of rolling a 2 is 1/6, because there is only one outcome that results in rolling a 2 out of the six possible outcomes.

Theoretical probability is often used in situations where the outcomes are known and the underlying assumptions are clear. It can be used to predict the chances of winning a game, drawing a certain card from a deck, or rolling a specific number on a dice.

Theoretical probability is important in many fields, including statistics, economics, and engineering. It provides a framework for making predictions and decisions based on mathematical principles, and can help us understand the likelihood of different outcomes in a wide range of situations.