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The 50/50 chance means there are two outcomes, and each on is equally likely. A coin has a 50% chance of coming up heads and 50% chance of coming up tails. If we have a number of events or outcomes, and little information to based which one is more likely to occur, we can assume that they are equiprobable events or outcomes. You can learn more by searching wikipedia under equiprobable.

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Q: What is a chance of 5050 like what does it mean?
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