Theoretical Probability - the likelihood an event should happen based on possible outcomes P(event)=(# of favorable outcomes/Total # of possible outcomes)
Empirical Probability - the observed probability an outcome occurs based on data you collect P(event)=(# of favorable outcomes/Total # of observed outcomes)
Probability Function - gives the probability that the outcome associated with that variable will occur
Probability Distribution - similar to a probability function, a distribution identifies the probability of a variable occuring
