The students, Georgia and Juliette, conducted an experiment to determine the experimental probabilities of different colored M&Ms in individual packages and compared them to the theoretical probabilities. Georgia found differences between 1-6% when comparing her results to the theoretical probabilities, with only yellow being the same. Juliette also found differences between her results and the theoretical probabilities. The document discusses analyzing the similarities and differences between the theoretical and experimental probabilities and which may be more accurate, as well as ways to improve the experiment.