| Feature | Theoretical Probability | Relative Frequency |
|---|---|---|
| Basis | Logic and symmetry | Observed data and trials |
| Accuracy | Exact value | Estimate (improves with more trials) |
| Usage | Games of chance (dice, coins) | Real-world events (weather, sports) |
Fair vs. Biased: A 'fair' process has outcomes with equal theoretical probabilities, while a 'biased' process favors certain outcomes over others.
Mutually Exclusive: These are events that cannot occur at the same time; if events and are mutually exclusive, the probability of either occurring is .
Check the Sum: Always verify that the probabilities in a table or set add up to ; if they do not, look for a missing value or a calculation error.
Answer Format: Unless specified, probabilities can be written as fractions, decimals, or percentages, but fractions are often the most precise for recurring decimals.
Sample Size Matters: When asked to choose the 'best' estimate for probability, always select the one derived from the experiment with the highest number of trials.
Sanity Check: Ensure your final answer is never less than or greater than ; a probability of or is mathematically impossible.