XChamp
08-31-2005, 03:08 PM
Here are the numbers. Over the past 12,490 hands I made $4,558 in 60.0 hours with a standard deviation of $163.8/100 hands.
I want to find the condidence that I make $50+/hr, so
u = 4,558
s = 163.8*sqrt(124.9) = 1830.61
if i make $50/hr then my expected winnings would be 60hrs*$45/hr = $2,700 over 60 hours. I say $45 because I average $5 back/hr from rakeback, which is independant of the quality of my play.
So to find the confidence that I make $50/hr or more by playing in this game I do the following calculation:
Integral[ 1/(s*SQRT(2*Pi)) * e^(-(x-u)^2/(2*s^2)), x, 2700, +infinity)
= 0.845
So what all this means is that if I found 100 people with the exact same stats as me (and they all averaged $5/hr from rakeback), about 85 of them would go on to make $50/hr or more playing in the same game.
Is this how I go about doing this? I haven't done something like this in a few months so I am rusty.
Thanks for the help
I want to find the condidence that I make $50+/hr, so
u = 4,558
s = 163.8*sqrt(124.9) = 1830.61
if i make $50/hr then my expected winnings would be 60hrs*$45/hr = $2,700 over 60 hours. I say $45 because I average $5 back/hr from rakeback, which is independant of the quality of my play.
So to find the confidence that I make $50/hr or more by playing in this game I do the following calculation:
Integral[ 1/(s*SQRT(2*Pi)) * e^(-(x-u)^2/(2*s^2)), x, 2700, +infinity)
= 0.845
So what all this means is that if I found 100 people with the exact same stats as me (and they all averaged $5/hr from rakeback), about 85 of them would go on to make $50/hr or more playing in the same game.
Is this how I go about doing this? I haven't done something like this in a few months so I am rusty.
Thanks for the help