Re: anyone know how to calculate standard deviation?
Let's say that there is a 100 man lotto. Entry is $1 and winner takes all. What is your SD in terms of buy-in?
xbar = 0
s = root ((100 + 100*100)/100) = $10.05 or 10.05 buy-ins
As you can see, a big top prize creates big varience. This is why MTTs have such huge varience (provided that you have a shot at winning). If they had a 10 man SNG where winner takes all (assume it is a $22), it would have much more varience then a typical Party 22. You will win 10% of the time.
ROI = -9.09%
s = root ((3600 + 32400)/10) = $60 = 2.73 buy-ins
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