1. What is Theoretical Probability?
Theoretical probability is based on the assumption that all outcomes in a sample space are equally likely. It is determined by logical reasoning rather than by conducting an experiment.
P(E) = Number of favorable outcomes / Total number of possible outcomes
2. Sample Space and Events
The set of all possible outcomes of a random experiment is called the Sample Space (S). An Event (E) is any subset of the sample space.
- Impossible Event: Probability is 0.
- Sure Event: Probability is 1.
- Complementary Event: P(not E) = 1 - P(E).
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