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I've heard people say countless times: "Your sample size is too small" then all your stats have to be thrown out the window. But now there is a way to use your stats well without a large sample size! Hooray!
What can I use it for?
With this formula you can calculate the error in VPIP, so you will get a minimum possible VPIP and a maximum VPIP, specified for a certain confidence interval. Given VPIP you can calculate a range of VPIP.
Formula: 95% Confidence Interval
Let n represent sample size Let dVPIP represent the error in VPIP
dVPIP = 1.960*sqrt( VPIP*(100-VPIP)/n )
I don't get it , show me examples!
You are at a table someones VPIP shows 25% in your HUD and you have 100 hands on them. Then:
You can be 95% confident that:
His actual VPIP is 25.0% +/- 8.49%
His minimum VPIP is 16.51%
His maximum VPIP is 33.49%
How can I use this?
1) When imputing hand ranges into equilator, ensure you are +EV for all handranges in this range.
2) Getting a better idea of handranges with small samples.
3) I dunno you tell me!