HW 7 solution

# HW 7 solution - Homework 7 1. Suppose, as an owner, you...

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Homework 7 1. Suppose, as an owner, you could leave the highly competitive league (in terms of closeness of contests) that you currently play in and enter a league that assured that your team would never lose again. Would you want to do so? Why or why not? Studies show that, while fans want their hometown team to win, they do not want their team to win all the time. If a team wins all its games, attendance will decline, as the contest becomes too predictable. The team should choose to stay in the competitive league. 2. Suppose in a six-team league, the winning percentages were as follows at the end of the season. Team A: .750, Team B: .600, Team C: .500, Team D: .500, Team E: .400, Team F: .250. Compute the standard deviation of winning percentages. where WPCT i is team i ’s winning percentage, and N is the number of teams in the league. In the case of sports leagues, the mean winning percentage is always 0.5 because one team’s win must be another team’s loss. Using the numbers given, the standard deviation is

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## This note was uploaded on 04/04/2011 for the course ECON 3306 taught by Professor Staff during the Spring '08 term at UT Arlington.

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HW 7 solution - Homework 7 1. Suppose, as an owner, you...

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