This isn't a homework question, it's just about a little minigame...
So, I've been messing around with this little "dog racing" game. Basically, 5 dogs line up, they have various stats, including an "overall" stat, and the player is given odds on each dog. I've determined that those odds are based entirely on the "overall" statistic.
I'd like to be able to determine the odds on any 5 dogs ahead of time.
To do this, I'm hoping to find a simple formula that produces odds that match those in the lineup shown below. Given that the calculation is probably pretty simple, I'm guessing that the formula will also apply to any other matchup.
example lineup:
"Overall Stat" . . . Payout/Odds
.... 48 ..................... 2.57 ....
.... 43 ..................... 6.56 ....
.... 56 ..................... 1.65 ....
.... 41 .................... 11.68 ....
.... 44 ..................... 5.14 ....
As you can see, the higher the overall stat, the more likely the dog is to win.
There are 62 possible dogs to be in a given race. I know all of their stats, and here is some (possibly) relevant data about their "overall" statistic:
Min: 39
Max: 82
Median: 48
Average: 50.33871
I've been trying various things in excel, but alas, I haven't even gotten close. Obviously, I know nothing about statistics,but I bet someone on this forum does... Please help: how are the odds calculated?
So, I've been messing around with this little "dog racing" game. Basically, 5 dogs line up, they have various stats, including an "overall" stat, and the player is given odds on each dog. I've determined that those odds are based entirely on the "overall" statistic.
I'd like to be able to determine the odds on any 5 dogs ahead of time.
To do this, I'm hoping to find a simple formula that produces odds that match those in the lineup shown below. Given that the calculation is probably pretty simple, I'm guessing that the formula will also apply to any other matchup.
example lineup:
"Overall Stat" . . . Payout/Odds
.... 48 ..................... 2.57 ....
.... 43 ..................... 6.56 ....
.... 56 ..................... 1.65 ....
.... 41 .................... 11.68 ....
.... 44 ..................... 5.14 ....
As you can see, the higher the overall stat, the more likely the dog is to win.
There are 62 possible dogs to be in a given race. I know all of their stats, and here is some (possibly) relevant data about their "overall" statistic:
Min: 39
Max: 82
Median: 48
Average: 50.33871
I've been trying various things in excel, but alas, I haven't even gotten close. Obviously, I know nothing about statistics,but I bet someone on this forum does... Please help: how are the odds calculated?
Facebook
Twitter