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Server Time: 10/11/2008 1:00:33 AM PACIFIC |
 Standard Deviation, -Sammy, 30. Sep 2003 14:37 | ||
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| Could someone explain &/or discuss "Standard Deviation" please? I'm not sure how this is utilized in analysing play, etc. | ||
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| Re: Standard Deviation, Barry T, 4. Oct 2003 16:33 | ||
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| Hi. I'll try. Standard deviation is a measure of volatility, or how much things vary from the mean. Let's try an example. Two guys go into a casino to shoot craps. One guy puts $10 onthe pass line every come-out roll for 4 hours. The other guy bets between $5 and $1,000 dollars per roll, and plays some propositions as well. After four hours, they quit, and notice they both lost $40. So we know they each lost $10/hr. That does not tell us, however, how likely they are to repeat this. The $10/come-out guy clearly has very low variaiton...he may lose a few bets in a row, or win them, but you can tell he will never lose $10,000 in a night. The other guy has huge swings (read very high standard deviation) and next time might easily win or lose a whole lot of money. (I.e., his results are far less predictable). In poker, standard deviaition is a composite measure of your style, and the type of game you play in. Wild styles and wildgames produce higher SDs. Players who play badly typlically have higher SDs, but so do champions who play small edges or play in very short-handed games. There are textbooks on this. You might also read Mason Malmuth's "Gambling Theory and Other Topics" for much more in dpeth stuff on poker probability math. BarryT | ||
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