Title: Comparison between four teams playing in Indian Premier League (IPL).
Author: Lavina Jain
Introduction: The Indian Premier League (IPL) (also known as the TATA IPL for sponsorship reasons) is a men’s Twenty20 (T20) cricket league held annually in India and contested by ten city- based franchise teams. The league was founded by the Board of Control for Cricket in India in 2007.
The brand value of the IPL in 2022 was ₹90,038 crore (US$11 billion). According to BCCI, the 2015 IPL season contributed ₹1,150 crore (US$140 million) to the GDP of the India.
There have been fifteen seasons of the tournament. The current title holders are the Gujarat Titans, winning the 2022 edition by defeating Rajasthan Royals in the final game.
Objective: To compare four teams playing in IPL by doing survey regarding their favourite team by using Anova single factor. The hypothesis is as follows-
H0: All teams are same.
H1: Any one of them is different.
Literature Review:
1.) What’s a Cricketer’s Worth? Predicting Bid Prices for Indian Premier League Auctions.
The present paper studies the results of year 2011 English-style auction of cricketers and recalibrates the old yet most accurate model by Rastogi and Deodhar (2009). Both models use ordinary least square method of regression with different variables. Bid prices are selected on the facts that Indian players command a premium over Pakistani players and Mumbai Indians systematically bids higher than other teams. Some of the cricketing attributes like batting strike rate in One-Day Internationals, halfcenturies, stumping and wickets taken also add significantly to the bidding value of the players. The paper also explains the reasons of considering particular variables and not others, for example – number of halfcenturies but not centuries. (Rastogi & Deodhar, 2009)
2.) Sports sentiment and behavior of stock prices: a case of T-20 and IPL cricket matches
This study uses the data on stock prices of firms sponsoring the Indian premier league (IPL) teams and data on Indian stock market. This study uses the data on stock prices of firms sponsoring the Indian premier league (IPL) teams and data on Indian stock market. This research shows that sentiment related to sports event such as cricket influences the decision-making process and thus affects underlying stock prices. The event-study frameworks along with autoregressive moving average and GMM regression are employed to empirical quantify the impacts of the performance of the IPL teams on the stock market returns.(Venkatesh & et al, 2019)
Data Collection: For the purpose of this project, four IPL teams that is Mumbai Indians(MI), Chennai Super Kings(CSK), Royal Challengers Bangalore(RCB) & Gujarat Titans(GT) were selected, survey was done where 50 students were asked to rate the team of their choice from 1 to 10. Data Analysis was done by using ANOVA single factor.
Data Analysis:
SUMMARY
Groups Count Sum Average Variance
MI 50 391 7.82 1.252653
CSK 50 418 8.36 0.724898
RCB 50 398 7.96 0.814694
GT 50 405 8.1 0.785714
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 7.96 3 2.653333 2.966309 0.033181 2.650677
Within Groups 1 75.32 196 0.89449
Total 183.28 199
The full forms were as under-
SS- Sum of Squares
Df- Degree Of Freedom
MS-Mean Sum of Squares
Calculated F= 2.966, Fcritical= 2.65
Conclusion: As Calculated F is more than table F, Reject H0 & accept H1. Which means any one of them is different. Alternate Hypothesis.
References:
Gourishankar S. Hiremath & Hari Venkatesh & Manish Choudhury, 2019. “Sports sentiment and behavior of stock prices: a case of T-20 and IPL cricket matches,” Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 11(3), pages 266-276, August.
Siddhartha K. Rastogi, 2017. “What’s a Cricketer’s Worth? Predicting Bid Prices for Indian Premier League Auctions,” Economics and Applied Informatics, “Dunarea de Jos” University of Galati, Faculty of Economics and Business Administration, issue 1, pages 127-133.