There are two types of probability:
| Type | Definition | Example |
|---|---|---|
| Theoretical Probability | What SHOULD happen mathematically | P(heads) = 1/2 |
| Experimental Probability | What ACTUALLY happens in trials | 48 heads in 100 flips => P = 0.48 |
Law of Large Numbers: As the number of trials increases, experimental probability gets closer and closer to theoretical probability.
Experimental P = (number of times event occurred) / (total number of trials)