... then all outcomes are equally likely. Nothing more, nothing less. You can always re-define the outcomes so that they are not all equally likely.
For example, on a single roll of a fair die, the numbers 1 to 6 are equally likely. But redefine the events so that
Event A = Prime number
Event B = composite number
Event C = neither prime nor composite number
then P(A) = 1/2, P(B) = 1/3 and P(C) = 1/6 : events with unequal likelihood.
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Theoretical probability- what the probability "should be" if all outcomes are equally likely.
fifty-fifty
6
If the outcomes of the trials are equally likely, then (and only then) is it the number of favourable outcomes and the total number of trials.