Theory of chance

The Theory of Chance explores how and why randomness occurs in events, focusing on probability—measures of how likely something is to happen. It helps us understand patterns in unpredictable outcomes, like rolling dice or predicting weather, by analyzing the likelihood based on known information. This theory provides a mathematical framework to quantify uncertainty, guiding decision-making in various fields such as statistics, finance, and science. Essentially, it explains that while individual outcomes are unpredictable, overall patterns emerge from chance when considering large numbers of events.