Probability vs. Chance

Difference Between Probability and Chance

Probability:

Definition:

Probability,  is a branch of mathematics that is capable of calculating the chance or likelihood of an event taking place in percentage terms.

Like for example:

A person can have a 50% probability of getting a heads on a toss of a coin. Probability has a scientific basis  and if there are 10 different colour balls in a bag,the probability of getting a particular colour ballis 1/10.

Origination of probability:

It was in the seventeenth century that gamblers asked famous mathematician Blaise Pascal and Pierre de Fermat to help them in knowing their chances of winning .

Chance:

Definition:

Chance is a word that is used in everyday life situation, mostly in games of luck where chances of a particular event taking  place are discussed

For example:

A person can have a chance of meeting a person or winning a game .A weak student has a chance to get good marks ,if he studies.In very simple terms ,chance is something that may happen,even if there were no scene of its happening. It can be seen that chance is a term that describes the likelihood of an event taking place.

Although the terms seem very different, there are a lot many differences amongst them:

Probability is separate field of study  originated from the study of games of chances. Tossing a coin, spinning a roulette wheel or rolling a dice are perfect examples.

Chance is an everyday word used in a situation where we are talking about an event taking place whereas probability is a precise measurement of that chance

Probability is a special branch of mathematics that helps people decide the percentage of likelihood of an event taking place whereas chances of an event taking place in daily life are merely opinions.

Also in a game of ludo,the probability of getiing a six is 1/2,probability of getting  rain is 1/2, probability of clearing a competitive exam is 1/2, in a game of cricket ,probability of winning is 1/2  .Probability is being taken in many fields such as finance, medicine, genetics, marketing, sociological surveys and even science to predict the outcome of an event.

 

Category: VS  |  Tags: