Economic Analysis explained using Sports Puzzles Volume 3

This is the third puzzle in the puzzle series. The puzzles in today’s post and video focus on winning strategies.

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The puzzles require the viewer to determine the optimal strategy for the team to take in order to win a soccer match. The team in most questions are losing by a goal with 10 to 15 minutes remaining in the game. The manager has to decide whether to be aggressive or to remain with the existing strategy. The questions provide the probabilities of scoring under both the aggressive strategy and the existing strategy. The video contains an example explaining how the optimal strategy can be calculated. This example is explained in the following pictures, diagrams and tables.

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After the example, the video then contains 3 questions which are somewhat similar to the example but contain different probabilities of scoring under each strategy. It is the job of the viewer to determine which strategy provides the highest chance of success. These questions are as follows in the pictures, diagrams and tables shown below.

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At the end of the video the answers to the questions and the explanations supporting the answers are provided. The pictures, diagrams and tables below summarize the answers to the questions.

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The normal strategy appears superior in this case.

Puzzle_Vol3(2a).jpg

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I hope you enjoyed this post. I have more puzzles to come.

Watch the full video on YouTube at:

The puzzles series is available using the following link:

The official Spectrum Economics website can be accessed at: https://www.spectrumecons.com

For more exciting videos go to my YouTube channel at https://www.youtube.com/channel/UCILwyLtjl7ZTlYOqFkAwLzw

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