What college basketball conferences have the higher probability of having a team play in college basketball's national championship game? Over the last 20 years, Conference A ranks first by having a team in the championship game 11 times. Conference B ranks second by having a team in the championship game 7 times. However, these two conferences have both had teams in the championship game only one time. Use these data to estimate the following probabilities. (a) What is the probability that Conference A will have a team in the championship game? (b) What is the probability that Conference B will have a team in the championship game? (c) What is the probability that Conference A and Conference B will both have teams in the championship game? (d) What is the probability at least one team from these two conferences will be in the championship game? That is, what is the probability a team from Conference A or Conference B will play in the championship game? (e) What is the probability that the championship game will not a have team from one of these two conferences?
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
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Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
What college basketball conferences have the higher
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