#1
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Standard deviations
I'm trying to calculate my standard deviation for bankroll and other purposes. What's the right measure...standard deviation of $/session or standard deviation of $/hr?
Is there any definitive source for the calculations? Thanks in advance. Jeff |
#2
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Re: Standard deviations
It all depends what you're looking for. For example, if the SD comes out to 100 for $/session, you could say that 95% of your sessions will be within + or -$200 of your mean session by Chebyshev's Theorem. That will just give you an idea of your variance.
Calculating it for $/hr would simply give you a range of what you're making (or losing) per hour. |
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