Moneyball approach
season in which the film took place) and discovered the following:
42% of teams now use the
Moneyball approach. The league can be divided into 2 classes of teams the rich ($100+ Million in annual payroll) and the poor (?) with smaller payrolls (the smallest being the Houston Astros at just over $24M, in 2013). 74% of the teams using the Moneyball strategy are poor, whereas 74% of the teams not using the Moneyball strategy are rich.
a) What percentage of teams have payrolls below $100M?
b) If you randomly select a team from amongst the poor what is the probability it employs the Moneyball strategy?
c) If you randomly select from the set of rich teams what is the probability it employs the Moneyball strategy?
d) What is the probability that either a team plays Moneyball and has a payroll below $100M, or is rich and doesnt play Moneyball?
Case 3: Geography and Education (15 Marks)
A firm selling products geared to those with higher education hired a demographer to tell them more about geographical location and education achievement. The demographer provided the firm with the following joint probabilities.
Education Maritimes Quebec Ontario Man/Sask Alta/BC Less the secondary school diploma .008 .031 .030 .021 .019 Secondary diploma .042 .072 .108 .059 .043 Some post- secondary schooling .008 .032 .021 .016 .019 Undergraduate degree .032 .059 .152 .038 .080 Post-graduate degree .010 .018 .031 .008 .043
Required:
a) What is the probability that someone living in Ontario has an undergraduate degree? b) What is the probability that someone is living in Alberta or British Columbia? c) What is the probability that someone living in the Maritimes does not have a secondary school diploma? d) What is the probability that someone living in Quebec has a University degree? e) What is the probability that someone living west of the Ottawa River (Ontario, Manitoba, Saskatchewan, Alberta, and British Columbia) has a post-graduate degree? Compare that to the probability for someone living east of the Ottawa River (Quebec and Marit
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