"The median is 10% or 5% less than the avarege"(How accurate is this?)

[Tharpab]

I did some simulations and seems pretty accurate
rule, when 5 or 10 should be applied?(would 7.5 have more accuracy on avarege?)
I'm finding this is a very important number
in MTT, so I dont send my time trying to win something I know
I way behind the median, thanks for your time

[stinkypete]

it might help if you explained what context you're using this in...

[Tharpab]

In MTTs knowing the
median helps because you know that if you too below it I should just gamble and forget about the tournament(since the buyin was free) but the avarege is often distored by big stacks

[uuDevil]

Are you talking about chip stacks? Tournaments I've played showed average stack only, so how do you know what the median is? More information please.

[stinkypete]

you should have mentioned that you were talking about chip stack sizes.

i'm not sure why you would want to know that. i believe most sites have a list of the rank and chip stack size of all players.

[Tharpab]

Yes they only show avarege stack, thats why I'm questioning a rule which you take the avarege subtract 7.5% and get the median, Bozeman(one of the math guys of the forum) mentioned it

[uuDevil]

[ QUOTE ]
Bozeman(one of the math guys of the forum) mentioned it

[/ QUOTE ]

Can you provide a link? I couldn't find it by searching. /images/graemlins/confused.gif I'm curious about this because it means he knows something about the distribution of chip stacks, and it isn't normal (the distribution, I mean /images/graemlins/tongue.gif ).

[Tharpab]

Try searching and reading his posts, there not many of them, here something I found on my notes:
"Average stack is usually 5~10% ahead of median stack

If you have >1/2 of average final table stack, you will probably make the final table

With two table left, 1/2 of an average final table stack usually puts you in about 18-n place out of n

If you are within 10% of big stack, you are probably in 2nd (unless there are more than 100-200 people left)

If you are close to the chip leader, you might as well be the chip leader, unless you are playing a pot against him

Average stack at PS is about (starting stack)*2^(time played/1 hour) (exception: PLO tourneys elinimate more players in the first hour)

The big stack is usually ~4 times the average

Average stack at final table is usually in third place"

[uuDevil]

Ok, thanks. Found it in the "recent archives" here:

Stack Sizes (http://archiveserver.twoplustwo.com/showthreaded.php?Cat=&Number=407545&page=&view=&sb =5&o=&vc=1)

Thylacine asked the question about distribution there but Bozeman didn't respond to it.

Edit: he did mention it in his post:

[ QUOTE ]
Though the distribution may start normal, it soon becomes a strictly decreasing function (not certain of this, it may maintain a peak below the average for a significant time)

[/ QUOTE ]

Sounds like he has limited information for his estimate on the relationship between the average and median, so I wouldn't bet the farm on it. On the other hand, he probably wouldn't have stated the range this way if it wasn't a pretty good rule of thumb.

[ QUOTE ]

Average stack is usually 5~10% ahead of median stack


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