I am doing more work on probability modelling and EV in MS Excel. I have more questions on standard deviations. Sorry!!
a) How do I calculate the standard deviation for one round of cards in blackjack? Is it true that the VARIANCE for one hand is equal to 1.33 – therefore will the standard deviation of one hand be equal to the square root of 1.33 i.e. 1.153?
b) So let’s say that I will play 4 hands against the dealer and bet $10 on each hand. How do I calculate the standard deviation for the one round of 4 hands? Is co-variance relevant in this situation?
c) Where can I find the relevant co-variance figure for playing for 2, 3, 4, 5, 6 or 7 hands at a time?
d) If i play 4 hands of $10 and then 4 hands of $1,000, will the theoretical $ standard deviation in the second round be 100 times that of the first round?
I’d appreciate any helpful comments to any of the above questions! Thanks in advance,
Matt
a) How do I calculate the standard deviation for one round of cards in blackjack? Is it true that the VARIANCE for one hand is equal to 1.33 – therefore will the standard deviation of one hand be equal to the square root of 1.33 i.e. 1.153?
b) So let’s say that I will play 4 hands against the dealer and bet $10 on each hand. How do I calculate the standard deviation for the one round of 4 hands? Is co-variance relevant in this situation?
c) Where can I find the relevant co-variance figure for playing for 2, 3, 4, 5, 6 or 7 hands at a time?
d) If i play 4 hands of $10 and then 4 hands of $1,000, will the theoretical $ standard deviation in the second round be 100 times that of the first round?
I’d appreciate any helpful comments to any of the above questions! Thanks in advance,
Matt