Theoretical probability is something we see in our daily life! Here are some easy examples:

1. Dice Games: When you roll a regular six-sided die, the chance of getting any specific number is $P = \frac{1}{6}$. This means there’s one way to get that number out of six total choices.

2. Coin Tossing: When you flip a coin, you can get two results—heads or tails. So, the chance for each side is $P = \frac{1}{2}$. This means there are equal chances for both sides.

3. Drawing Cards: If you have a standard deck of 52 playing cards, the chance of picking an Ace is $P = \frac{4}{52} = \frac{1}{13}$. There are four Aces in the deck, and 52 total cards.

These simple examples show us how we can figure out the chances of different outcomes when everything is equally likely!