Society of actuaries case study: building Rarita's soccer team

Sports are a huge part of every society. Whether it is baseball, rugby, cricket football, basketball, or soccer, people gather around sporting events. Sports inherently have a lot of uncertainties involved and statistics and probability can be used to quantify those uncertainties into tangible numbers. In MATH 498, Actuarial Science Senior Seminar, my team worked on the Society of Actuaries 2022 Case Study. The case study tasked us to create a national soccer team for the fictional country of Rarita. Rarita wanted to increase their economy by having a strong national team to win championships. The case study provided participants with a large amount of data of various sorts that we could use to construct a strong team and predict its economic impacts on the country of Rarita. This paper for HONR 499 will outline the processes used to create our soccer team for the fictional country of Rarita.