What does the math term Chance mean?

Answer 1

'Chance' is NOT used in mathemetical statistics.

The correct word is 'Probability'.

Algebraically expressed as

P( something occurring) = ( any decimal value between '0' and '1'.

P( ...) = 0 ( Will NOT happen)

P( ..._ = 1 ( Will definitely happen).

e.g. P( night follows day) = 1 ( It will definitely happen).

P( heads on coin toss) = 0.5 ( Because it may com down on the reverse side(tails)).

NB If you have a probability answer 'outside' '0' & '1', then the answer in incorrect.!!! Start again!!!!!

Answer 2

Chance is another word for the probability of an event occurring.