by TheUnknownPlayer » Tue Dec 21, 2004 1:30 am
Rhound50,
My stats from Nov 24th to Dec 20th are +$9485 for 90 hours work or approximately $105.39/hr. Let's look at two scenario's from these numbers... in the first one I'll play a 10 hour session and win $1000, in the second scenario I'll play a 10 hour session and lose $1000. Both of these events are reasonable possibilities.
In both cases my sample size shall be 100 hours. In the first one, I'll be up $10,485 for 100 hours and my hourly shall be $104.85. In the second scenario, I'll be up $8485 for 100 hours and my hourly shall be $84.85. The first scenario is 23% greater. 23% swing in one session! Clearly 100 hours is insufficient. Now let's say I worked 100 a month for a year and my stats stayed at $104.85/hr. Now I've got 1190 hours or $124,772 for the year at the $104.85/hr number with ten hours to go. In the last ten hours of the year, let's say I win $1000 in one scenario and lose $1000 in a second scenario. Well, I'm either at $125,772 for the year or $123,772 for the year respectively. The difference here is only 1.6% and I for one can live with a margin of error of less than 2%.
TUP