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I have a small issue with SLG, too, I should say, because it supposes perfect increases in value for each base. Is a triple really three times as valuable as a single? A home run is twice as valuable as a double? I doubt it.
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It's not a valuation. SLG is the average number of bases you hit for per at bat. Nobody is saying that a triple is worth three times a single; the statistic measures power by showing you how many bases a guy takes on average.