The NCAA men's basketball season starts with 327 college teams all dreaming of making it to "the big dance" and attaining the National Championship. Sixty-four teams are selected for the tournament, and only one wins it all. (Assume that every team has an equal chance.)
(a) What are the odds against a team being selected for the tournament?
(b) What are the odds of a team that is in the tournament winning the National Championship?