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Major League Baseball uses what is known as a 5-3-1 system to vote for the Most Valuable Player (MVP) in each league. Each voter gets to vote for three different players they consider worthy of the award.

Their first place candidate gets 5 points, their second place candidate gets 3 points, and their third place candidate gets 1 point.

Points are then added up across all voters, and the player with the most total points wins the award.

Suppose there are three voters-Neyer, Law, and Phillips-and five potential candidates for the award-Alex, David, Raffy, Manny, and Mario. The following table shows how each voter ranks the candidates. Raffy is embroiled in a substance abuse scandal. The "guilty" or "innocent" verdict will come out the day before voting, and a guilty verdict will nullify his votes.

Rank

Neyer

Law

Phillips

Best

David

David

Raffy

Second Best

Alex

Nex

Alex

Third Best

Raffy

Rafty

Manny

Fourth Best

Manny

Manny

Mario

Filth Best

Mario

Mario

David

a. Who will win the MVP if Raffy is found innocent?

b. Who will win the MVP if Raffy is found guilty?

c. What problem with consistent aggregation does this illustrate?

Financial Econometrics, Finance

  • Category:- Financial Econometrics
  • Reference No.:- M91946616

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