Economics Essay Paper on Hot Hand

Hot Hand

1.  Fill in the following

NAME prob(hit/3 misses) prob(hit/2 misses) p(hit/1 miss p(hit)   p(hit/1hit)   p(hit/2 hits)   p(hit/3 hits)    Correlation P  
YOUR NAME .50(12) 47(32) 56(101) 50(248) 49(105) 50(46) 48(21) -.020  

2.  Do your conditional probabilities show evidence of the hot hand?  Explain.

Yes, because it shows a higher probability after many misses hence a higher level of focus. There is a higher probability of making the next shot due to a higher level of confidence.

3.  Does your correlation coefficient ρ show evidence of the hot hand?  Explain.

Yes, it shows that the probability increases with an increase in missed chances.

4.  Fill in the following.

Players Hits Misses Runs Expected runs z-statistic    
YOUR NAME 124 124 128 125.0 -0.38    

5.  Show where your runs number falls on the distribution.

File:Standard deviation diagram.svg

6.  Is this evidence of the hot hand?  Explain.

Yes. Because the higher the number of runs the higher the expected runs.