School is equations. Real world is empirical.
I presented a paper at a conference 11+ years ago where I described a process where I solved a set of equations by trial and error. One equation and hundreds, if not thousands, of unknowns (zero sequence impedance of multiple lines with many sections and lots of variable conditions). I solved it by assuming a single value over the whole distance for a couple of necessary values and comparing those against an actual event, iterating until the results were reasonable. A couple of different reactions.
One was from my advisor (working on my Masters at the time) who brought a group of students to the conference and he said that the students were all aghast at the empirical approach. The other was the founder of a major supplier who declared that "this is a significant paper" in the field. Experience since then show that the empirical approach rules the roost.
All of that isn't to say that there aren't a whole lot of equations that are useful day in and day out, but all of those equations start out assuming a set of ideal conditions. If the ideal condition are a good match to reality then the standard equations are used and found useful. But when the ideal conditions don't do a good job of describing the actual conditions the solution becomes more and more empirical. Knowing which is which is when/where the grey hairs are earned.