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the expectation I've seen a few time is "play over .500 ball". Definitely my experience is that the teams that feel strongest to me end up with a high expectation, and with a weaker team a lower expectation is likely ... I have assumed it was a calculation based on (or mainly on) Overall value of the players making up the team (Somewhat similar to the appreciation that is done during trading ... identifying weaknesses.... if a team has only minor weaknesses, then I'd think that the owner would have rather high expectations.
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