[MUD-Dev] Expected value and standard deviation.

[Bernard Graham]

Jeff wrote:

> I have been playing poker for many years and recently have been
> teaching a couple of friends Texas Hold 'Em (due in large part to
> ESPN/Travel Channel).  I had to recently explain to them that it
> is not as much about maximizing expected value, as it is balancing
> expected value with standard deviation.

This sounds very interesting (the concept), but, if possible, could
you perhaps explain this concept with less mathematical terms - I am
not an expert with statistics but would really like to know what you
mean by "expected value" and "standard deviation".

Bernard
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