I have the following two questions. For the first one do I need to know how many games are in an NCAA tournament, and if I do does anyone know this. As for the second question, I don't understand what it is asking for by the wording of it.
1) Assuming the probability of guessing the winner in any NCAA basketball tournament game is 0.5 (that is an even toss-up), what is the probability of picking the winner in all the games?
Would I use (0.5/number of games)
2) What dollar value would be required as a prize for guessing all the winners for your expected value of guessing to be $1?