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Then what purpose do they serve?
The RPI's purpose is to evaluate how a team has performed (solely in terms of W/L) against the competition it has played. It is not intended to predictive. It is intended to reward having a good w/l record against good competition. And the committee has a vested interested in it working that way -- it's easy to evaluate a team that has played a tough schedule; it's much harder to rate a team that has played no one. The RPI rewards the former and punishes the latter.