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List three different methods one could use to measure competitive balance in the NBA. For each...

List three different methods one could use to measure competitive balance in the NBA. For each method, list at least one benefit and one drawback of that particular
method.

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Answer #1

Relative standard deviation this method helps in understanding when all fctors are constant and can be used for comparison of how balanced teams are. Drawback being all other factors have to be constant and hence not versatile enough.

Ratio of standard deviation this method helps when there is perfect balance of teams. However it is incompatible when there is imbalance which ks drawback.

Assymetric standard deviation is when other factors can be changed and comparative measurement of competitive balance of NBA teams can be found. However is very volatile and risky and has huge variance for small sample sizes.

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