The World Series in baseball is won by the first team to win four games (ignoring the
Question:
a. If X denotes the number of games that it takes to complete a World Series, identify the possible values of the random variable X.
b. Do the first and third columns of the table provide a probability distribution for X? Explain your answer.
c. Historically, what is the most likely number of games it takes to complete a series?
d. Historically, for a randomly chosen series, what is the probability that it ends in five games?
e. Historically, for a randomly chosen series, what is the probability that it ends in five or more games?
f. The data in the table exhibit a statistical oddity. If the two teams in a series are evenly matched and one team is ahead three games to two, either team has the same chance of winning game number six. Thus there should be about an equal number of six- and seven-game series. If the teams are not evenly matched, the series should tend to be shorter, ending in six or fewer games, not seven games. Can you explain why the series tend to last longer than expected?
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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