The paper should be typed, 12 pt. font, double spaced, and the whole assignment in one single PDF file, including copies of all supporting material identified below. Do not ask me to accept assignments that are not combined, and please do not exceed the space limit of four written pages–my grading will stop there.
This project does not require an intimate knowledge of baseball or even econometrics, but you should be familiar with many aspects of the game. The project below will ANALYZE the most recent season and how it impacts player pay for this upcoming season. You will assume the role of General Manager trying to decide which players to select for the 2018 season using their performance in the 2017 season. Your analysis will be based on a simplified version of the methods described in the article “An Economic Evaluation of the Moneyball Hypothesis.”
Your analysis will use statistics from the previous season to predict salaries/performance for the current regular season. Be very careful that you are using the correct seasons on the website below. Once the MLB season begins, the websites will update based on current performance. Ensure that the pages below show you the right season for analysis. Do not use data from Spring Training or Postseason. You’ll want to use the regular season statistics only.
Six web sites will be of use in doing so. I have included the data years you will need to analyze. Be sure the data source is correctly visible:
6. 2017 doc.
Read the Hakes & Sauer (2006) paper and focus on the process of valuing baseball players. You should also read the FiveThirtyEight article to understand why this process was so revolutionary. You will be asked to summarize both of these articles in your final write-up. Afterward, begin collecting data using Microsoft Excel. Collecting your data in a single Excel file with different tabs for the Teams Sheet and Players Sheet. If you do not read the articles, it will be obvious when you try writing your paper.
The first sheet will relate the teams’ effectiveness to winning and revenue. We will use this information to determine the value of winning for a team. This performance analysis should be conducted for the 2017 season.
The second sheet of your spreadsheet will have you calculate an individual player’s marginal product and then relate salaries to player effectiveness.
Write out, in four double-spaced, typewritten pages, 1) what you did, including writing out any formulas you utilized in your spreadsheets; 2) why you did the items that you did, including an explanation and justification of the formulas you used; and 3) answer questions above and 4) summarize with a conclusion on the correlation between estimated MRP and salary. For an introduction, you should summarize the FiveThirtyEight article.
To write out the formulas, you may use traditional algebraic notation or copy the Excel formulas out of your spreadsheet. Include a References page (APA or MLA) for any material that is referenced in the paper, including data sources provided above. Include an Appendix after your references that has your data and graphs nicely presented. The work in your Reerences and Appendix does not count against your four-page limit.
Everything should be combined together into a single PDF file and follow the formatting specified at the top of this assignment. Take care to make your data & graphs clear and visually pleasing: in business, presentation matters. Screenshots of data and graphs will be considered unprofessional.
As with all assignments, you are invited to come see me during office hours with questions. Please get started early, that gives you time to work through any complications you may run into.
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