Friday, September 26, 2008
Cool Standings
Great and obvious explanation:
The thing you have to remember with a case like the Rockies, when we say they had a 2 percent chance, which is basically a 1-in-50 shot, that doesn’t mean it’s going to happen once every 50 years. It means for every 50 teams that find themselves in that situation—a certain number of games back with a certain number left to play, with the schedule they were facing—one of them will make the playoffs. And there are a lot of teams in that situation, and most of them don’t make the playoffs. Half the league was probably in that situation last year.
Another way to think about this is this: make a bet after every single day. Bet on all the teams with a less than 5% chance of making the playoffs, on that day, to make it. Keep betting. Every day. Chances are, the amount of money you bet will match the payoff.
(Hat tip: David)
I had thought about that, but not sure it changes my argument from last week, or whenever it was. Say you take all the teams that round to a 1% playoff chance, every day. Say the 2005 Astros meet that qualification on 25 different days. Then we’ve got 40 days of the Pirates, Orioles, etc. (those teams also have many days with a zero percent chance). That’s your opportunities, but then the Astros also count 25 times to your successes. Does it really work out to 1%? Maybe, I don’t know.
I do know I’ll practice restraint in criticizing teams that find themselves in those 1% reports, and still make moves to try and go for it.