Theory:

Chances and Probability
It often happens that we take up a chance in predicting some events or happenings that we come across in everyday life. Here are some daily life examples where we take up a chance.
 
  • Chances that it would rain on a sunny day or not.
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  • Chances that he/she wins or loses a game.
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  • Chances that the train would arrive late to the station.
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  • Chances of getting an expected question in the examination.
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  • Chances that a political party wins or loses in the election.
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  • Chances of getting a head or a tail in tossing a coin.
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  • Chances that we would win in a lottery.
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  • Chances of drawing the expected card from the deck, etc.
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How do we relate chance and probability?
 
Probability is a mathematical term of expressing the chance or predicting the happening of an event mathematically.
 
Consider the example of playing cards, the probability that the drawn card is a king of hearts is given by \(\frac{1}{52}\) where \(52\) is the total number of cards in a deck.
 
Thus, chances and probability are related to real-life right from childbirth in predicting whether the baby is a boy or a girl to the person's death, whether death is natural or accidental.