Questions about PT4 and variance

Originally Posted by DJAbacus

Watch out everyone it's the Variance police. I'm guessing you don't get out much.

I could explain the finer points between convergent and non-convergent stats.

I could explain why that video has nothing to do with poker or any stat you'd like to estimate that would help guide your decisions in a poker hand.

I could explain why the normal distribution is NOT an unbiased estimator for statistics based on Bernoulli trials.

I could, but I see that you've got it all figured out.

Sorry to have wasted your time, DJ. Where can I buy your book on probability and statistics?


@renegaderob: If there's anything you'd like clarification on, please keep asking questions until you fully understand.

Originally Posted by MadMojoMonkey

I could explain why that video has nothing to do with poker or any stat you'd like to estimate that would help guide your decisions in a poker hand.

It's simple really.

You bet on tails.

You flip a coin 30 times and it comes up tails 20 times. You have been lucky.

It comes up heads 20 times. You have been unlucky.

You flip the coin an infinite number of times and you will win 50% of the time, neither lucky or unlucky.

Poker is a more complicated scenario, with many variables but over an infinite number of hands we win or lose based on our 'Poker Skills' as we are neither lucky nor unlucky over an infinite sample.