# Question: Professors at the University of Chicago and the University of

Professors at the University of Chicago and the University of Pennsylvania analyzed 1,613,234 putts by golfers on the Professional Golfers Association (PGA) Tour and found that 983,764 putts were made and 629,470 putts were missed (Is Tiger Woods Loss Averse? Persistent Bias in the Face of Experience, Competition, and high Stakes, American Economic Review, February, 2011)

a. What is the probability that a PGA Tour player makes a putt? What is the probability that a PGA Tour player misses a putt?

b. Suppose that a PGA Tour player has a par putt. It is known that of putts made, 64.0% were for par while for putts missed, 20.3% were for par. What is the revised probability of making a putt given the PGA Tour player has a par putt?

c. A birdie occurs when a player makes a putt in one stroke less than par. Suppose that a PGA Tour player has a birdie putt. It is known that of putts made, 18.8% were for birdie whereas for putts missed, 73.4% were for birdie. What is the revised probability of making a putt given the PGA Tour player has a birdie putt?

d. Comment on the differences in the probabilities computed in parts (b) and (c).

a. What is the probability that a PGA Tour player makes a putt? What is the probability that a PGA Tour player misses a putt?

b. Suppose that a PGA Tour player has a par putt. It is known that of putts made, 64.0% were for par while for putts missed, 20.3% were for par. What is the revised probability of making a putt given the PGA Tour player has a par putt?

c. A birdie occurs when a player makes a putt in one stroke less than par. Suppose that a PGA Tour player has a birdie putt. It is known that of putts made, 18.8% were for birdie whereas for putts missed, 73.4% were for birdie. What is the revised probability of making a putt given the PGA Tour player has a birdie putt?

d. Comment on the differences in the probabilities computed in parts (b) and (c).

## Answer to relevant Questions

A financial manager made two new investments—one in the oil industry and one in municipal bonds. After a one-year period, each of the investments will be classified as either successful or unsuccessful. Consider the making ...Refer again to the data from the MBA new-matriculants survey in exercise.a. Given that a person applied to more than one school, what is the probability that the person is 24–26 years old?b. Given that a person is in the ...Time Warner Cable provides television and Internet service to over 15 million people (Time Warner Cable website, October 24, 2012). Suppose that the management of Time Warner Cable subjectively assesses a probability ...The unemployment rate in the state of Arizona is 4.1% (CNN Money website, May 2, 2007). Assume that 100 employable people in Arizona are selected randomly.a. What is the expected number of people who are unemployed?b. What ...The number of students taking the SAT has risen to an all-time high of more than 1.5 million (College Board, August 26, 2008). Students are allowed to repeat the test in hopes of improving the score that is sent to college ...Post your question