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(c) The indifferences in the number of times at bat for these players are small, and we will ignore them for simplicity of calculation. Create a graph with "number of total bases" on the y-axe, and "number of hits plus walks" on the x-axe. Plot the combinations of A and B achieved by each of these players. Draw four "indifference curves," one trough each of the four points you have plotted. These indifference curves should represent combinations of A and B that lead the same number of runs-created.

(c) The indifferences in the number of times at bat for these players are small, and we will ignore them for simplicity of calculation. Create a graph with "number of total bases" on the y-axe, and "number of hits plus walks" on the x-axe. Plot the combinations of A and B achieved by each of these players. Draw four "indifference curves," one trough each of the four points you have plotted. These indifference curves should represent combinations of A and B that lead the same number of runs-created.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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2. The idea of assigning numerical values to determine a preference ordering over a set of ob- jects is not limited in application to commodity bundles. The Bill James Baseball Abstract argues that a baseball player's batting average is not an adequate measure of his offensive productivity. Batting averages treat singles just the same as extra base hits. Furthermore they do not give credit for "walks," although a walk is almost as good as a single. James argues that a double in two at-bats is better than a single, but not as good as two singles. To reflect these considerations, James proposes the following index, which he calls "runs created." Let A be the number of hits plus the number of walks that a batter gets in a season. Let B be the number of total bases that the batter gets in the season. (Thus, if a batter has S singles, W walks, D doubles, T triples, and H home runs, then A= S + D + T + H+W and B = S +W +2D +3T +4H.) Let N be the number of times the batter bats. Then his index of runs created in the season is defined to be AB/N and will be called his RC.
Transcribed Image Text:2. The idea of assigning numerical values to determine a preference ordering over a set of ob- jects is not limited in application to commodity bundles. The Bill James Baseball Abstract argues that a baseball player's batting average is not an adequate measure of his offensive productivity. Batting averages treat singles just the same as extra base hits. Furthermore they do not give credit for "walks," although a walk is almost as good as a single. James argues that a double in two at-bats is better than a single, but not as good as two singles. To reflect these considerations, James proposes the following index, which he calls "runs created." Let A be the number of hits plus the number of walks that a batter gets in a season. Let B be the number of total bases that the batter gets in the season. (Thus, if a batter has S singles, W walks, D doubles, T triples, and H home runs, then A= S + D + T + H+W and B = S +W +2D +3T +4H.) Let N be the number of times the batter bats. Then his index of runs created in the season is defined to be AB/N and will be called his RC.
(c) The indifferences in the number of times at bat for these players are small, and we will ignore them for simplicity of calculation. Create a graph with "number of total bases" on the y-axe, and "number of hits plus walks" on the x-axe. Plot the combinations of A and B achieved by each of these players. Draw four "indifference curves," one trough each of the four points you have plotted. These indifference curves should represent combinations of A and B that lead the same number of runs-created.
Transcribed Image Text:(c) The indifferences in the number of times at bat for these players are small, and we will ignore them for simplicity of calculation. Create a graph with "number of total bases" on the y-axe, and "number of hits plus walks" on the x-axe. Plot the combinations of A and B achieved by each of these players. Draw four "indifference curves," one trough each of the four points you have plotted. These indifference curves should represent combinations of A and B that lead the same number of runs-created.
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