Abstract
The previous six chapters have provided us with a general idea of what a model is and how it can be used. Yet, if we are to develop good model building and analysis skills, we still need a more formal description, one that permits us a precise method of discussing models. Particularly, we need to understand a model’s structure, its capabilities, and its underlying assumptions. So let us carefully re-consider the question—what is a model? This might appear to be a simple question, but as is often the case, simple questions can often lead to complex answers. Additionally, we need to walk a fine line between an answer that is simple, and one that does not over-simplify our understanding. Albert Einstein was known to say—“Things should be made as simple as possible, but not any simpler.” We will heed his advice.
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- 1.
1500 * $50 * (1–0.55) = $33,750……and……..4000 * $50 * (1–0.20) = $160,000.
- 2.
$60,000 + $48,750 + $33,750 + $15,000 = $157,500 (game revenue plus attendance fee).
- 3.
$160,000 + $130,000 + $90,000 + $40,000 = $420,000 (game revenue plus attendance fee).
- 4.
2500 * $50 * (1–0.35) = $81,250.
- 5.
2500 * $50 * (1–0.55) = $56,250.
- 6.
($100,000–$25,000) + ($81,250–$43,750) + ($56,250–$68,750) = $100,000.
- 7.
E29/100 = 40/100 = 0.40 or 40% …currently the value of the OTSD Player Odds.
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© 2010 Springer-Verlag Berlin Heidelberg
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Guerrero, H. (2010). Modeling and Simulation: Part 1. In: Excel Data Analysis. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-10835-8_7
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DOI: https://doi.org/10.1007/978-3-642-10835-8_7
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