Your favorite team is in the grand final. You have assigned a probability of 60% that they will win the championship. Past records indicate that when teams win the championship, they win the first game of the series 70% of the time. When they lose the series, they win the first game 25% of the time. The first game is over; your team has lost. What is the probability that they will win the championship?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Your favorite team is in the grand final. You have assigned a
championship. Past records indicate that when teams win the championship, they win the first game
of the series 70% of the time. When they lose the series, they win the first game 25% of the time. The
first game is over; your team has lost. What is the probability that they will win the championship?
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