Re: Confidence Intervals for Non-normally distributed data
Let me clarify where I am going with this and maybe someone can help me out.
Lets say I do a bunch of math and I think I have a 5% edge on a certain type of sports bet, and I calculated this 5% edge based on 300 games I recorded.
Lets say I do some other math and I find out that I have a 10% edge on a different type of sports bet, and I calculated this 10% edge based on only 100 games worth of data.
For which one do I truly have a better expectation? 5% edge over 300 games, or 10% edge on 100 games.
To go to the extreme I know that if I found a 50% edge in 5 games clearly that is a fluke.
Sorry if this doesn't make sense...
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