sports economics

Suppose that over the four seasons from 2016 to 2019, the order of finish for five teams in the West League (A, B, C, D, and E) and the East League (V, W, X, Y, and Z) are as shown below. Season wins and losses are in parentheses. (a) Use the HHI to determine which league had better competitive balance across seasons. Carefully explain your answer. (b) Use the standard deviation of win percentage to determine which league had better competitive balance in 2019. Carefully explain your answer. (c) Explain any differences in your above answers. Order of Finish West League East League 2016 2017 2018 2019 2016 2017 2018 2019 A (8 - 0) B (7 - 1) B (6 - 2) A (7 - 1) V (16 - 0) W (14-2) X (12 - 4) Y (14 -2) 2 B (6 - 2) A (5 - 3) D (5 - 3) D (6 - 2) Z (13 - 3) V (11 -5) V (9 - 7) V (11 -5) W C (4 - 4) D (3 - 5) E (4 - 4) C (3 -5) X (7 - 9) X (7 - 9) Y (9 -7) Z (7 - 9) 4 D (2 - 6) E (3 - 5) A (4 - 4) B (2 - 6) W (3-13) Y (5 - 11) W (7 -9) W (5 - 11) 5 E (0 - 8) C (2 - 6) C (1 - 7) E (2-6) Y (1 - 15) Z (3 - 13) Z (3 - 13) X (3 - 13)