normlovesslots
normlovesslots
Joined: May 12, 2016
  • Threads: 2
  • Posts: 2
May 17th, 2016 at 1:54:33 AM permalink
Morning All?

If I have a slot machine with a house edge (e.g. 3%) and I know its low variance, how would I go about calculating the standard deviation?

Many Thanks in advanced
RS
RS
Joined: Feb 11, 2014
  • Threads: 49
  • Posts: 5136
May 17th, 2016 at 3:08:31 AM permalink
Standard deviation is the square root of variance.
http://www.mathsisfun.com/data/standard-deviation.html
"should of played 'Go Fish' today ya peasant" -typoontrav
thegamblingmath
thegamblingmath
Joined: Jun 18, 2017
  • Threads: 1
  • Posts: 7
June 18th, 2017 at 3:29:36 AM permalink
Hi,

I can give you a tutorial if you want for a low fee.
odiousgambit
odiousgambit
Joined: Nov 9, 2009
  • Threads: 274
  • Posts: 7185
June 18th, 2017 at 10:39:56 AM permalink
Quote: many many people

Standard deviation is the square root of variance



Although this is true I usually figure this is a purposefully unhelpful response, sort of tongue-in-cheek. It makes *me* laugh anyway. Am I all wet?

Usually the SD can be looked up for games, or you can find the variance [in which case the above is relevant], or you can guess about it from a similar game. see link for VP.

https://wizardofodds.com/games/video-poker/appendix/3/
"We thank with brief thanksgiving Whatever gods may be That no man lives forever, That dead men rise up never" Nor any gambler the long run see ever ........apologies to Swinburne for that last line

  • Jump to: