Horse Races Mat Statistics Assignment
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Horse Races Mat Statistics Assignment
Mat Statistics
Project 4 – Chapter 4 Summer 2019
Horse Races
To simulate the races we are going to represent each horse with colored spaces on a wheel. Some horses are faster than others. To represent this, the “faster” horses will have more spaces on the wheel (thus improving their probability of winning). The race will be conducted by spinning the wheel and the color it lands on will be the “winner”. Complete Parts 1 & 2 before you conduct the races.
Part 1 – Computing Odds
Horse Races Mat Statistics Assignment
Kentucky Derby – 4 horse race
This race will consist of 4 horses – Red, White, Blue & Yellow. The number of spaces on the wheel of each color will be as follows:
Red – 8 White – 4 Blue – 3 Yellow – 1
Find the probability of each horse winning as a fraction, decimal and percent:
Red horse – 8/16 = .5 or 50%
White horse –
Blue horse –
Yellow horse –
Compute the odds against for each horse, show your work and be sure to reduce the fraction:
Odds against red horse =
Odds against white horse =
Odds against blue horse =
Odds against yellow horse =
Preakness – 8 horse race
This race will consist of 8 horses – Red, White, Blue, Yellow, Green, Pink, Purple & Black. The number of spaces on the wheel of each color will be as follows:
Red – 16 White – 12 Blue – 10 Yellow – 9 Pink – 8 Green – 5 Purple – 3 Black – 1
Find the probability of each horse winning as a fraction, decimal and percent:
Horse Races Mat Statistics Assignment
Red horse =
White horse =
Blue horse =
Yellow horse =
Pink horse =
Green horse =
Purple horse =
Black horse =
Compute the odds against for each horse, show your work and be sure to reduce the fraction:
Odds against red horse =
Odds against white horse =
Odds against blue horse =
Odds against yellow horse =
Odds against pink horse =
Odds against green horse =
Odds against purple horse =
Odds against black horse =
Part 2 – Place Your Bets
You are going to bet $100 on each race ($1000 total). You place the same bet each time the Kentucky Derby and Preakness are run. You are going to try to select the “winning” horse in each race. You will get to bet on more than one horse per race to help your odds. The actual odds against that you computed in Part 1 are going to be used as your payoff odds. Your goal is to try to make as much money as possible keeping to the following rules:
- You must bet on at least 2 horses in the Kentucky Derby and 4 horses in the Preakness.
- If you choose to bet on a horse, you must bet a minimum of $5 per horse.
- You must bet all of your $100 on each race.
Complete the table below except for Part 3.
Part 3 – Conduct the Races
You are now going to conduct the races by spinning the wheel 5 times for each race. After each spin, put the race winner in the Part 3 (yellow) part of the table, then identify the amount of money (if any) won. After you have completed the 5 spins for each race, total your winnings and complete the table.
Kentucky Derby Wheel:
Preakness Wheel:
Kentucky Derby: Part 3 (in yellow)
Race Winner Horse Amount Bet (minimum $5 or $0, must bet on at least 2)
Potential net profit (odds * bet)
Potential amount received (bet + net profit)
Amount Received Odds Race 1 Race 2 Race 3 Race 4 Race 5 Total Red 1 : 1 White Blue Yellow Total xxxxxxxxxx $100 xxxxxxxxxxxx xxxxxxxxxxxxxxx Preakness:
Race Winner Horse Odds Potential net profit (odds * bet)
Potential amount received (bet + net profit)
Amount Received Amount Bet (minimum $5 or $0, must bet on at least 4)
Race 1 Race 2 Race 3 Race 4 Race 5 Total Red White Blue Yellow Pink Green Purple Black Total xxxxxxxxxx $100 xxxxxxxxxxxx xxxxxxxxxxxxxxx
Total Amount Received (race 1 total + race 2 total): Net Profit (total amount received – $1000):
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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