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Colonial Downs (B)
Carraway, Robert L.; Miller, Cliff; Kaminsky, Keith Case QA-0591 / Published February 15, 2002 / 3 pages.
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Product Overview

In this case, the protagonist's uncle calls him just before betting closes on the same race and asks him to place a $500 bet for him. The $500 is clearly enough to affect the odds, but since the protagonist determines he is apt to be the final bettor, he reasons he can figure out how the odds will change based on how he bets the money.


Learning Objectives

• 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

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  • Overview

    In this case, the protagonist's uncle calls him just before betting closes on the same race and asks him to place a $500 bet for him. The $500 is clearly enough to affect the odds, but since the protagonist determines he is apt to be the final bettor, he reasons he can figure out how the odds will change based on how he bets the money.

  • Learning Objectives

    Learning Objectives

    • 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