Probability of winning in series

Assignment Help Basic Statistics

Reference no: EM13103495

Assume in a single game sudden death playoff between team A and team B that team A would win with probability 0.6.

a) What if the league deicdes to play a best of 3 series instead of a sudden death playoff. what is the probability that team B would win? show your calculations

b) What if the league decided to play a best of 5 series instead of a sudden death playoff. What is the probability that team B would win? show your calculation.

c) If you were the league commissioner and you were concerned about competitive balance and thus wanted to limit the value of talent to large market teams, what do the result in (a) and (b) suggest about the design of the league playoffs. Explain.

Reference no: EM13103495

Questions Cloud

Estimating mean of normal probability distribution : Help with showing how do detrime the standard deviation of a problem when the standard deviation is 5. An example would help me to work out a problem for the normal probability distribution.

Illustrate what is the project npv : There are 3 million outstanding shares. Illustrate what should be the direct impact of this investment on the per-share value of the common stock?

Analyze political and social as well as legal differences : Analyze political, social, ethical as well as legal differences facing both organizations as well as determine the impact these differences have on management decision making

Probability that an organization selected at random : what is the probability that an organization selected at random will have at least one of the three types of benefits?

Probability of winning in series : Assume in a single game sudden death playoff between team A and team B that team A would win with probability 0.6.

Express the main differences in a push and pull system : Take an automobile manufacturer. Illustrate what are the advantages--and disadvantages of using a few suppliers as opposed to have many suppliers for the various components, sub-assemblies and systems that are purchased?

Preparing a payoff table showing profits : Historically, demand has been for 50, 100, or 150 units each week, so the company makes one of those run sizes. In the past, the manager of the department has made 100 units per week for regular production. A: Prepare a payoff table showing profit..

Prepare a memo to grace in whom you outline the purposes : Prepare a memo to Grace in whom you outline the purposes of the organization and the costs and benefits of becoming a member. Close your memo with a recommendation regarding whether your company should join the organization.

Function of probability : A new book is being released and a bookstore predicts that 70% of customers that walk through the door on the release day will purchase the book.

User Account

All Pages