Re: proper sample size for data?
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I have been keeping real strong records in Pokertracker and SNG Tracker for awhile now and I'm curious, what is a proper sample size to determine something like an accurate ROI from one table SNGs? Or an accurate distribution of finishes to determine leaks in my game? Thanks
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People will give you a lot of specific numbers without meaning. To choose a number, you need to say how accurately you want to determine the statistics. A rough 95% confidence interval after n tournaments is the observed result +- 340%/Squareroot(n), since the standard deviation for one tournament is about 170% of a buy-in.
People often say that they can tell something from the place distribution. I'm skeptical; does placing 3rd a lot mean you emphasize surviving the bubble, or ignore the difference between second and third? Anyway, if you want to determine a confidence interval for your ITM percentage, a 95% confidence interval is about the observed rate +- 95%/Sqrt(n), since the standard deviation per tournament is just under 50%.
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