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PR or Luck? Here is the real answer if you are looking for (Long but informative)

Posted By: Rick Janowski
Date: Thursday, 11 February 2016, at 12:11 a.m.

In Response To: PR or Luck? Here is the real answer if you are looking for (Long but informative) (Matt Cohn-Geier)

This could have some scope I think. It seems a little like the use if statistical theory to generate race formula. If the difference in overall average MWC cost (or PR) is zero then the likely probability of winning is about 50%. If it is possible to estimate the standard deviation of the mean of the difference, probability of winning could be evaluated from the normal distribution or logistic distribution which is used in the Elo formula and gives similar results.

One possible issue is that the distribution will be naturally skewed. However this is also the case with races (because of doublets) yet assuming symmetrical distribution results in very small errors.

Standard deviation or variance of PR appears to be generally proportional to some function of average PR from investigations I made a few years ago. However, there could be other factors relating to the discipline/consistency of the players. Having a lower SD will generally benefit the favourite player, and vice versa.

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