It is a number expressing the likelihood of the occurrence of a given event, especially a fraction expressing how many times the event will happen in a given number of tests or experiments.
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There are no generic answers. The theoretical probability for rolling a die and tossing a coin will, obviously, be different. The theoretical probability of an event is calculated by finding a suitable model for the trial and then using scientific laws to determine the probabilities of its outcomes.
Sometimes it is possible to define a model for a trial or experiment and then use mathematical or scientific rules to determine the probability of the possible outcomes. Such a procedure gives theoretical probabilities.
When you can find a model that satisfactorily captures the scientific laws behind all the possible outcomes of the trial.
When you have a model that describes the required situation well enough so that you can use scientific laws to calculate the probabilities of the outcomes of the experiment.
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