I've been reading up on theoretical physics for a few years now and I feel like I am starting to get an understanding of particle physics, at least as much as you can from Wikipedia pages. One thing I have tried to understand but fails to make sense to me is Bell's Theorem. I understand that the premise of the ERP paper was that the "wave form collapse" couldn't work because it would require the two particles which made up the convoluted wave form to communicate instantly, violating the information speed limit. Instead they suggested that it was due to hidden variables (ie the values are already set, whether they have been measured or not).
My question is can any one explain to me how Bell's experiment works and how it disproves this in terms that don't require an in-depth understanding of the math behind quantum mechanics?
My current understanding of the experiment is you have two people who are reading a quantum value of entangle quantum particles (for my understanding lets say the spin state of a positron-electron pair produced by a pair production event). For each particle pair the two readers measure the spin at a randomly chosen angle.
Here is where I need clarification: if I understand it correctly, local realism hypothesis states that when measured on the same axis the spin states should always be opposite (.5 + -.5 =0, ie conservation) when measure on opposite axis the spin states should always be the same ( .5 - .5 = 0 ) and when measured 90 degrees apart, the values are totally random. This part I get. I believe these results are predicted to be the same by both local realism and quantum mechanics. The inequalities between the two hypotheses rise when the particles are measured on axes which are between 0-90 degrees off axis from each other, correct?
What I would like to have explained is the following:
What are the predictions made by quantum mechanics?
What are the predictions made by local realism?
How do they differ?
How is entanglement different from conservation?
Any corrections in regard to my explanation above?