Instructions: Response must be at least 310 words written in current APA format with at least two academic references cited. References must be within the last five years. Response must extend, correct/refute, or add additional nuance.As humans, we tend to respond to certain events within our environment by finding a way to explain how these events occurred. Our interpretations are based on how we formulate our ideas by establishing possible theories. Therefore, a theory can be explained as a set of ideas arranged in an orderly way to enable one to explain certain events and phenomena as observed. For instance, medical theories help medics to try to understand the causes and nature of health and diseases. So, theories enable us to understand, explain and make predictions about a certain event we have seen or encountered or concerning a given topic or subject matter.There are various ways and methods of developing theories since the human mind is constantly seeking answers. They can be constructed using sentences that are based on the subject matter. Through our minds, we can come up with personal theories from events we have observed and by critically evaluating the event (Berente et al., 2019). Scientists on the other hand use scientific data and a variety of tests to develop and build their theories. These are new theories and they have to be well researched. Another way to develop a theory would involve relying upon previous established/published theories and using them as a guide of foundation for the new theory. By so doing, the theorist can add discoveries, integrate new concepts using different approaches, or modify the existing theory. From a simple hypothesis followed by appropriate research and a valid deduction, we can easily come up with a good theory.A good theory should depend on facts, values, and other theories. It is upon these 3 dependencies that theories are evaluated upon. Facts help support the theory and make it evidence-based. Many theorists rely on facts presented in research reports. Values include the data that is used to support the theory. It could be measurements or another figure that support the testability of the theory. Established theories provide support to new theories as evidence and support and if the old theories were true then chances are that the new theory will also be true. An example of a theory would be a business strategy created by a businessman to increase his sale and number of customers. Through research and information from others, his theory will be tested depending on the sales trajectory. Poor results from few customers would imply a poor theory.The primary criteria to evaluate a theory is to falsify or test it. The result of the testing can either be the refutation or the collaboration of the theory. However, there is no specifically defined way to evaluate theories (Woodcock et al., 2021). Due to the infinite number of repetitive tests required, theories are hard to prove. The Severity, the validity of tests, measures, and identification of all variables are other factors that prohibit proving theories. Values that are hard to disapproved and present testable predictions collaborated by the research are highly valued. Another method of evaluation would involve considering the accuracy and precision of the prediction of a theory. Prediction accuracy of around 80% would imply that the theorist has done a good job and has accounted for all variables and factors.In conclusion, theories are important tools that help us analyze and interpret the events surrounding our lives.