There is a difference between empirical and theoretical probability.

The simplest term is the possibility of something happening.How likely is it that it will rain on Monday or that she will go shopping tomorrow?The scenario for which we want to measure a probability is an event when we talk about probability.In the previous example, we had an event that it will rain on Monday or that she will go shopping.The result that the event yields is what very event has.If you toss a coin, the outcome is either a head or tail.

The probability value will fall between 0 and 1.There is no likelihood of the event happening while a value of 1 means there is a high chance of it happening.

A probability value is gained from an experiment.When a coin is tossed 80 times, we want to find out the probability of getting a head.We will perform an experiment in which we will toss the coin 80 times.The first thing we need to do is define the event, which is the occurrence of getting a head.The formula would be:

When there is no experiment to perform or it is not feasible to determine probability, this type of probability comes into play.The outcomes of an event are assumed to be equally possible.We want to know if we will get a tail when a coin is thrown.There is a chance of getting a head or tail when a coin is thrown.The event which we will define as P(T) will be used to calculate the probability.The formula is given if all outcomes are equal.

The assumption that outcomes have an equal chance of occurring is the basis for theoretical probability.axiomatic probability and subjective probability are the other types of probabilities.

This article can help you understand the difference between empirical and theoretical probability.