Question

What are two types of probability? How are they different?

Answer 1

Hint: The types of probability depend on the types of event like if it is asked to determine the probability of occurrence of raining tomorrow, then in this case the event is not certain or it is not based on any theory.
While, in other types, if it is asked to determine the occurrence of $2$ when a dice is thrown, then the total occurrence of the event is based on theory.

Complete step by step solution:
Probability is nothing but the comprehensive approach of calculating the possibility of happening in any event.
Like it is a branch of mathematics in which we calculate the possibility of happening of any event.
The minimum probability of any event is $0$ it means that there is no chance of occurring that particular event or we can simply say that the particular event is impossible to happen.
While the maximum probability of any event is $1$ it means that the chances of occurrence of the particular event is $100\%$ or it is said to have happened certainly.
The types of probability are:
Subjective Probability:
As the name implies, subjective, this is that particular type of probability where the final result or possibility depends on subjects, or based on information.
Like, if is asked to determine the probability of raining tomorrow,
As we know that, this is an uncertain question, as it is not based on any occurrence or traits, but only based on information,
So, such probability comes under the category of subjective probability.
Theoretical / Experimental :
Such probability is based on theory and experiments.
Like, if we tossed the coin, then the theory said that either we will get head or tail,
So, if we are asked to find the occurrence of any one of them, we can easily determine the value of required probability.
So, we can say that,
The theoretical probability is different from subjective in the way of occurrence of events.

Additional information:
As the probability is the possibility of happening of any event,
So, we will understand this by an example,
Let us consider an example,
Like if we are tossing a coin,
Then as we know that,
If we tossed any coin then there may be a chance that the head will occur on the face of the coin or the tail will occur on the face of the coin.
Like, there is a possibility that the result might be head or tail.
As, there is a total $2$ possibility of final outcomes.
So, we can say that,
The possibility of occurring head will be $1$ out of $2$ chances,
So, probability of head will be $=\dfrac{1}{2}$
In a similar way, the probability of occurring tail will be $=\dfrac{1}{2}$
When we add the individual probability of all the events then the final must be equal to $1.$
Here, $1$ means that, $100\%$
As the final total possibility of occurrence of any event is $1$ or $100\%$

Note: Total value of sum of probability of individual occurrence is always $1$ or $100\%$
If the probability of any event is $0$ then it is said to be impossible, meaning the chances of happening the event is null.
If the probability of any event is $1,$ then it means that the chances of happening the event is $100\%,$ or it is said to have happened certainly.