In real-life situations, chance significantly impacts our daily decisions and experiences, often leading to unexpected outcomes. For instance, forgetting to carry an umbrella on a rainy day or a student being tested on unprepared material exemplifies how chance affects our lives. This section connects these experiences to probability, explaining that outcomes can often be modeled mathematically. Probability is defined as the likelihood of certain events occurring based on calculated ratios of favorable outcomes to total outcomes. The section presents examples such as exit polls in elections and weather forecasting by meteorological departments that utilize past data to make predictions. Understanding probability thus allows for better decision-making in uncertain situations.