sagefr0g
Well-Known Member
i got some definitions here and was hoping that some one might give maybe a better definition or add a formula to fit. i took them out of the online Blackjack Encyclopedia of Casino 21 and one on N0 from qfit's cvcx help.
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expectation. The theoretical outcome per wager and a measure of how much the player (or casino) can expect to lose (or win) in a particular game based on the handle. This measure (generally expressed in dollars or percent) is based on the player's statistical advantage or disadvantage.
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variance. In statistics, the mean of the squares of the variations from the mean of a frequency distribution.
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standard deviation. (SD). Also called fluctuation or luck. This statistical index is often used in technical blackjack texts as a measure of how much individual wins and losses can differ from the average. In statistics, the SD is the square root of its variance and is used as a measure of dispersion in a distribution. In an even game, the SD is often approximated as the square root of the total number of hands or bets divided by 2 as shown below:
SD = (Square Root of N) / 2
where N = number of hands.
For all practical purposes (99.7% of the time), you will be within 3 SDs of your expectation. 95.4% of the time you will be within 2 SDs and 68.3% of the time you will be within 1 SD.
In blackjack, where one side enjoys an advantage, it is more appropriate to express SD as a percentage. The percentage of the SD can be expressed as:
% SD = (1.1 / (Square Root of N)) x 100
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N0. (N-zero) A mathematical term that reflects the number of hands required to be played with a certain set of rules and strategy before the player is ahead by at least one standard deviation. Related to the variance and expected value as follows: N0 = Var / EV^2.
N0 - N0 is another strategy scoring technique developed by Brett Harris. It is defined as "the number of rounds that must be played, with a fixed betting spread, such that the accumulated expectation equals the accumulated standard deviation As such, it is a measure of how many rounds must be played to overcome a negative fluctuation of one standard deviation with such a fixed spread."
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risk of ruin. (ROR) The probability of losing your bankroll. Can be expressed as a trip risk of ruin or total bank risk of ruin
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expectation. The theoretical outcome per wager and a measure of how much the player (or casino) can expect to lose (or win) in a particular game based on the handle. This measure (generally expressed in dollars or percent) is based on the player's statistical advantage or disadvantage.
------------------------------------------------------------------------
variance. In statistics, the mean of the squares of the variations from the mean of a frequency distribution.
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standard deviation. (SD). Also called fluctuation or luck. This statistical index is often used in technical blackjack texts as a measure of how much individual wins and losses can differ from the average. In statistics, the SD is the square root of its variance and is used as a measure of dispersion in a distribution. In an even game, the SD is often approximated as the square root of the total number of hands or bets divided by 2 as shown below:
SD = (Square Root of N) / 2
where N = number of hands.
For all practical purposes (99.7% of the time), you will be within 3 SDs of your expectation. 95.4% of the time you will be within 2 SDs and 68.3% of the time you will be within 1 SD.
In blackjack, where one side enjoys an advantage, it is more appropriate to express SD as a percentage. The percentage of the SD can be expressed as:
% SD = (1.1 / (Square Root of N)) x 100
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N0. (N-zero) A mathematical term that reflects the number of hands required to be played with a certain set of rules and strategy before the player is ahead by at least one standard deviation. Related to the variance and expected value as follows: N0 = Var / EV^2.
N0 - N0 is another strategy scoring technique developed by Brett Harris. It is defined as "the number of rounds that must be played, with a fixed betting spread, such that the accumulated expectation equals the accumulated standard deviation As such, it is a measure of how many rounds must be played to overcome a negative fluctuation of one standard deviation with such a fixed spread."
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risk of ruin. (ROR) The probability of losing your bankroll. Can be expressed as a trip risk of ruin or total bank risk of ruin