In this case, the protagonist is trying to decide which of the three horses running in the final race of the day at Colonial Downs horseracing track to bet on. He has $10 to bet, not enough to affect the odds in the track’s pari-mutuel wagering system given the total amount of money being wagered. Data on each of the horse’s previous 10 races is provided, including date, type of track, condition of track, jockey weight, and days of rest since previous race. Can this data help him make a decision?
• Practice building regression models • Identify and address temporal dependence in a regression model • Use simulation to analyze the result of multiple uncertainties • Construct a simple nonlinear optimization model