1. A Word document that is prepared according to the APA standards of formatting. In the Word document, explain the experiments and their respective conclusions, and additional information as indicated in each problem. Save your word document in the format
2. Either an Excel workbook or an R script file (.R file) that contains all the work and the calculations indicated in parts 1-4 of the project. If using Excel, all work should be completed in the Excel workbook provided. Furthermore, they should be completed in the designated cells as instructed in the workbook. Please save your Excel workbook or R script file in the following format:
Question: Suppose that Boston Red Sox and New York Yankees (two American League baseball teams) are scheduled to play a best of three series. The winner of the series will be the first team that wins two of the three games. The probability that the Red Sox win a game in their home stadium is 0.61 and the probability that Yankees win their home game is 0.58. Next, suppose that you place a bet on each game played where you win $250 if the Red Sox win and you lose $260 if the Red Sox lose the game.
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