Answer to Question #135640 in Economics for krit SINGH

Question

Suppose the Fiji Rugby Sevens team is in the grand final of HK Sevens championship. Experts have assigned a probability of 60% that Fiji 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 lost championship, they win the first game 25% of the time. The first game is over against NZ and Fiji has lost.

Present the above information in a tree diagram and calculate the probability of Fiji winning the championship given that they have lost their first game.

Answer 1

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