I understand conditional probability whereby I can use known or unknown variables. In terms of the variables from this question, for instance, I can safely get the favourable probability by using the formula
$$ P (a,b|c) = P (a∣c,b)P(c∣b) $$
Where
- event a = goals conceded so far by a team
- event b = goals scored so far by a team
- event c = total wins by a team
These events are used in context of each of the competing sides we seek to compare.
The equation above would then be given as
goals conceded so far by team A x team A total wins ...(8.8)
goals conceded so far by team B x team B total wins ... (7.7)
Then I intend finding the probability of a loss for team A using $P(a|b) = P(a)$ which would evaluate as
1- 8.8 = 8.8
which is obviously impossible. How do I correlate independent events when all prior probabilities have already been found? Or is there another formula I should use instead?