is chance and probability same or not
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Suppose you go to watch a cricket match. When the match begins both the participating teams have an equal chance of winning. Slowly, when the match proceeds it becomes clearer which team will win the match. How do the people investing money in stock market decide to invest money in a particular stock? They take risk based on certain factors. Or the people who buy waiting tickets of train expecting it to get confirm they take a chance or risk.
There are many situations in real life where we have to take a chance or risk. Based on certain situations, the chance of occurrence of a certain event can be easily predicted. In simple words, the chance of occurrence of a particular event is what we study in probability.
so they are different
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