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Risks and Rewards in Professional Tennis
內容大綱
<p style="color: rgb(197, 183, 131);"><strong> AWARD WINNER - INFORMS Case and Teaching Materials Competition</strong></p><br>Founded in 1972, the Association of Tennis Professionals (ATP) was the governing body of three professional men’s tennis circuits: the ATP World Tour, the ATP Challenger Tour, and the ATP Champions Tour. In addition to the ATP World Tour tournaments, there were four highly coveted and extremely competitive Grand Slam tournaments, one of which was Wimbledon. In 2014, two professional tennis players sought to determine their respective odds of placing first at Wimbledon, by using an understanding of probability, stochastic modelling, and Markov chain application. Both players were ranked outside the top 100 and faced a momentous task.
學習目標
This case is suitable for undergraduate and MBA level courses on analytics. Using the case, students will learn about the following concepts:<ul><li>Probabilities and expected value. </li><li>Stochastic modelling.</li><li>Decision/event tree.</li><li>Markov chain application with finite time horizon.</li><li>Matrix multiplication in Microsoft Excel.</li><ul>