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WASTAGE AND VARIANCE

Posted By: Maik Stiebler
Date: Tuesday, 19 October 2010, at 1:03 p.m.

In Response To: WASTAGE AND VARIANCE (Ray Kershaw)

As a rule of thumb, high wastage means low variance and vice versa. Maybe trying to find exceptions would not help that much.

You need to estimate wastage in order to estimate by how many effective pips you are leading or trailing. Then, to convert the difference in effective pips into game winning chances, you need, among other things, a crude estimate of the variance (which, usually, you can easily derive from the estimated wastage). Low variance, as a rule of thumb, increases the value of every effective pip.

Messages In This Thread

• WASTAGE AND VARIANCE
  Ray Kershaw -- Tuesday, 19 October 2010, at 11:49 a.m.
  • WASTAGE AND VARIANCE
    Maik Stiebler -- Tuesday, 19 October 2010, at 1:03 p.m.
    • WASTAGE AND VARIANCE
      Bob Koca -- Tuesday, 19 October 2010, at 7:05 p.m.
      • WASTAGE AND VARIANCE
        Maik Stiebler -- Tuesday, 19 October 2010, at 7:40 p.m.
  • WASTAGE AND VARIANCE
    Tom Keith -- Tuesday, 19 October 2010, at 2:01 p.m.
    • WASTAGE AND VARIANCE
      Maik Stiebler -- Tuesday, 19 October 2010, at 2:23 p.m.
      • WASTAGE AND VARIANCE
        Tom Keith -- Tuesday, 19 October 2010, at 2:56 p.m.
  • WASTAGE AND VARIANCE
    Timothy Chow -- Tuesday, 19 October 2010, at 3:02 p.m.