Final answer:
The correct phrase is "as good a chance," which suggests an adequate probability of success based on current resources. This phrase aligns with the notion of having a reasonable or balanced expectation of an outcome.
Step-by-step explanation:
The phrase in question is whether to use "as good of a chance" or "as good a chance" in the sentence. The correct phrase is "as good a chance" which is grammatically proper. In this context, given the group's equipment, it implies the group's probability of success or achieving a particular outcome is reasonable or adequate considering the circumstances.
Probability and chance often refer to the likelihood of a particular event occurring. For example, saying there is a 50-50 chance indicates that an event is equally as likely as not to happen. The likelihood implied by "as good a chance" in this context is likely to be one that balances optimism with a realistic assessment of the situation, as influenced by available resources or equipment.