During the FPL season, casinos odds makers establiish a point spread on each game for betting...

During the FPL season, casinos odds makers establiish a point spread on each game for betting purposes. For example, the Bay Parkers were established as 3.5-point favorites over the eventual champion Texas Cowboys in the 2013 Super Bowl. The final scores of FPL games were compared against the final point spreads established by the odds makers in Chance (Fall 1998). The difference between the game outcome and point spread (called a point-spread error) was calculated for 240 FPL games. The mean and standard deviation of the point-spread errors are 1.6 and 13.3, respectively.

Use this information to test the hypothesis that the true mean point-spread error for all FPL games is positive. Conduct the test at α = .10 and interpret the result

Show full work. Written down is prefered to typing

Expert Solution

orchestra answered 2 years ago

Why do casinos place a point spread on football betting opportunities? Also, why would a point...

Why do casinos place a point spread on football betting opportunities? Also, why would a point spread change from when the game is originally posted and before the game officially starts? Please provide data and examples.

Why does the spread in a betting market provide a decent estimate of the point differential...

Why does the spread in a betting market provide a decent estimate of the point differential between two teams in a sporting event?

A game of chance offers the following odds and payoffs. Each play of the game costs...

A game of chance offers the following odds and payoffs. Each play of the game costs $100, so the net profit per play is the payoff less $100. Probability Payoff Net Profit 0.10 $700 $600 0.50 100 0 0.40 0 –100 a-1. What is the expected cash payoff? (Round your answer to the nearest whole dollar amount.) a-2. What is the expected rate of return? (Enter your answer as a percent rounded to the nearest whole number.) b-1. What is...

Suppose that the Dongguk football team plays twelve games in a season. In each game, they...

Suppose that the Dongguk football team plays twelve games in a season. In each game, they have a1/3 probability of winning, a 1/2 probability of losing, and a 1/6 probability of tying. The outcome of each game is independent of all others. [1] What is the probability that the team will end the season with a record of (7 wins, 3 losses, 2 ties)? [2] Suppose that for each win, the team receives three points, and for each tie they...

During the 2014-2015 NBA season, Stephen Curry of the Golden State Warriors attempted 646 three-point baskets...

During the 2014-2015 NBA season, Stephen Curry of the Golden State Warriors attempted 646 three-point baskets and made 286. He also attempted 1,341 two-point baskets, making 653 of these. Use these counts to determine the probabilities for the following questions. (a) Let the random variable X denote the result of a two- point attempt. X is either 0 or 2, depending on whether the basket is made. Find the expected value and variance of X b) Let a second random...

The number of 3-point shots made per game during high-school basketball games was counted for all...

The number of 3-point shots made per game during high-school basketball games was counted for all 523 games played during one school year in a particular school district. The results are shown in the bar chart below. 350 300 250 200 150 100 50 0 1 2 3 4 5 6 If we take a simple random sample of size 40 from this population and calculate the mean number of 3-point baskets, which of the following best describes the shape...

Q11111) Each week coaches in a certain football league face a decision during the game. On...

Q11111) Each week coaches in a certain football league face a decision during the game. On fourth-down, should the team punt the ball or go for a first-down? To aid in the decision-making process, statisticians at a particular university developed a regression model for predicting the number of points scored (y) by a team that has a first-down with a given number of yards (x) from the opposing goal line. One of the models fit to data collected on five...

Each week coaches in a certain football league face a decision during the game. On fourth-down,...

Each week coaches in a certain football league face a decision during the game. On fourth-down, should the team punt the ball or go for a first-down? To aid in the decision-making process, statisticians at a particular university developed a regression model for predicting the number of points scored (y) by a team that has a first-down with a given number of yards (x) from the opposing goal line. One of the models fit to data collected on five league...

(1 point) A biologist captures 24 grizzly bears during the spring, and fits each with a...

(1 point) A biologist captures 24 grizzly bears during the spring, and fits each with a radio collar. At the end of summer, the biologist is to observe 15 grizzly bears from a helicopter, and count the number that are radio collared. This count is represented by the random variable ?X. Suppose there are 113 grizzly bears in the population. (a) What is the probability that of the 15 grizzly bears observed, 3 had radio collars? Use four decimals in...

Question