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I've had similar hunches to the premise of this thread in my own games, but just put those hunches down to confirmation bias and other fallacious reasonings on my own part.
All I'll say on the analysis is that OP seems to be using data points which are nearly irrelevant when considered independently of a huge amount of backup data.
Overall ratings - as anyone who spent much time with this game knows, these are next to useless. As has been shown by another poster there are plenty of serviceable players who can contribute who the game rate at 45 overall, and also plenty who are worse than average rated at 50. It serves nothing more than a very first look at a player to ballpark where he is in relation to the rest of the league.
ERA - there is far far too much else at play which can influence this, and is why so many other advanced stats are available today to give context to these numbers.
Win/Loss - Is it 1986? Nobody who has even heard the phrase 'sabermetric' cares about pitchers win/loss record.
Using those as data points just undermines this entire endeavour. I applaud the effort going into this, but you need to think through your data more carefully and robustly.
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