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Originally Posted by Eric
It's a coincidence that your formula and my averaging method of not including continuation hands as real hands in the count both came up with 20, right?
I was all primed to say yes. I'm not so sure, though. We both looked at the same situation and wanted to find the value of entering FL, and we came up with the same number. It is SUPER common in probability and statistical calculations to have methods that look extremely different that are actually equivalent.
Originally Posted by Eric
Carl said this in email:
Also, I'm not sure if that is the best way to calculate the value, by excluding consecutive hands from the count. Wouldn't that inflate the value? In your example, you actually only netted 12 points per hand, so why is the value of FL 20 points per hand?
It's 20 and not 12 because of the continuations. Does this help:
If FL scored exactly 12 every time, and there was an X% chance that you got to stay in FL, then the EV of FL is definitely greater than 12.
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Maybe it's a misunderstanding about EV. EV is not necessarily a viable outcome. For instance, a fair 6 sided die has an EV of 3.5, however, the die contains no faces with a value of 3.5. You'll never roll a 3.5... but that's the Expected Value.
Originally Posted by Eric
Again, I would counter that by saying the continuation hands aren't normal hands. They would not exist had we not stayed in fl. Their value wouldn't have been captured had we not gotten into fl in the first place. It is easier to get my point across by studying some home games. For example, I think ej said they don't even move the button in fl because it is treated as an extension of the regular hand instead of as a new hand.
Let's make sure we all understand the population of data in the same way.
Consider this image:
The outer, grey area is ALL hands in POFC. It represents 100% of the data. It is our Population.
Within that population, we've chosen to divide it into 2 groups. Hands that are played regular, and hands that are played FL.
The inner, white area is just the FL hands.
Inside the first white rectangle is another rectangle, representing hands that stayed in Pineapple 1 time. Inside that rectangle, there is another, representing hands that stayed in Pineapple 2 times... etc... all the way down.
We acknowledge that the rate of getting into FL is different than the rate of staying in FL, as there are different conditions for each. The first white rectangle covers X% of the grey. The 2nd white rectangle covers r% of the first, and all the subsequent rectangles cover that same r% of the last rectangle.
Here, X + r = 1, as X is the %-age of non-FL hands and r is the %-age of FL hands.
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