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27992: RE: [MUD-Dev] Expected value and standard deviation.
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From: "Bernard Graham" <bernard@crimzone.co.za>
Newsgroups: nu.kanga.list.mud-dev
Date: Mon, 1 Sep 2003 11:57:30 +0200
References: [1]
Organization: Kanga.Nu
Jeff wrote:
> I have been playing poker for many years and recently have been
> teaching a couple of friends Texas Hold 'Em (due in large part to
> ESPN/Travel Channel). I had to recently explain to them that it
> is not as much about maximizing expected value, as it is balancing
> expected value with standard deviation.
This sounds very interesting (the concept), but, if possible, could
you perhaps explain this concept with less mathematical terms - I am
not an expert with statistics but would really like to know what you
mean by "expected value" and "standard deviation".
Bernard
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