30th December 2005, 06:45 PM
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Member
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Join Date: Jan 1970
Location: Sydney
Posts: 402
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Quote:
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Originally Posted by KennyVictor
For those of us too slow witted/lazy/confused to work it out could you give us an example of how to use it using figures on your sheet. Like if I have a sample of 400 bets showing a strike rate of 18% there is a figure of 25.4%. What does that mean?
Cheers,
KV
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It is saying:
That observed strike rate of 18% is 25.4% better than the low confidence limit.
Suggesting you need a POT of at least 25.4% to be confident that you have a non-negative edge.
Earlier on this thread I showed how to use the Internet tool to get confidence limits for strike rates. |