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What is the difference between theoretical probability and empirical probabilities?
empirical probability is when you actually experiment with it and get data values, and theoretical probability is when you use math to make an educated guess.
When would it be appropriate to use theoretical probability?
When you know for sure that the data you are trying to describe has a well-known theoretical probability distribution. For example, you 'know' from past experience that the heights of a certain age group in a school is normally distributed.
When could you use theoretical probability?
When there is a good theoretical model for the experiment and the model allows you to identify all the factors affecting the outcome and determine their impact on the outcome. Even if you cannot identify all the factors, you can still use theoretical probability but the predictions from your model will be less reliable. Econometrics is a good example of using theoretical probability based on an incomplete understanding of the model.
What does theoretical probability mean in math terms?
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.
How do you use theoretical probability?
a machine has two parts the probability of failure of one parts in a given period of time is 0.06 the probability of failure of the other part in the same period os 0.08 what is the probability that the machine fails in that period of time ?
