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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.
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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.
What occupations would use theoretical probability?
statiticians
How are experimental probability and theoretical probability related?
As the number of times that the experiment is conducted increases, the experimental probability will near the theoretical probability - unless there is a problem with the theoretical model.
What is theoretical probability mathematical wise?
Theoretical probability:Theoretical probability is when you decide what is the probability of something using the information that is given to you!
What is theoretical proablity?
Theoretical probability- what the probability "should be" if all outcomes are equally likely.
