Well, "I back and I'm proud"

[ratso]

Jeff A:
I was serious about explaining the "standard deviation" when it pertains to poker. I do not believe that calculating the standard deviation for poker is trivial. Do you calculate this number simply as one would by using the Excel function on a column of wins and losses? I do not know, really. What is more important? Is variance or standrd error more meaningful? Does one have to use a weighting? How can one account for differences in different levels (i.e. 10/20, 20/40, NL 1-2 or 5-10)? I guess they should all be separated. If the player is good, then one would expect more wins than losses and naturally more $$$ which would suggest non-normally distributed data. How does one handle that? I do not believe a mean +/- the stdev is technically correct. Should the data be transformed? These are tough questions for which I have no answers. I have not read any sources that address these questions. I (and others, I suspect) would love to see any reference about calculating the most meaningful statistic that would give players a handle on their variance or swings. I suppose Mason has considered this. Perhaps he has an answer. If you could provide some info I would be grateful. Seriously, an apologetic and humane Ratso.