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: 5559
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: 275
  • Posts: 7362
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/
"Baccarat is a game whereby the croupier gathers in money with a flexible sculling oar, then rakes it home. If I could have borrowed his oar I would have stayed." .......... Mark Twain

  • Jump to: