How do I figure out the SD if my actual result is -$3300 and my expected reult is +$7900?
The difference between +$7,900 and -$3,300 is $11,200. Total hours is EV/Hourly_EV = 155 hours. Your per hour SD is $724.40, so your SD over 155 hours is (I hope I'm doing this right) $9,018*. So, you are at -$11,200/$9,018 SDs = -1.24 SDs.
* ($724.40^2 * 155)^0.5 = $9,018.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
Thank you. Is the formula to reach $9018 always the same, (hourly s.d.^2 * total hours)^0.5?
Also, in CVCX under expected results:
prob.
66.7% -$832 to $16,630
90% -$7002 to $22,800
99.7% -$18,902 to $34,700
So, any results that fall within the first row are within the mean, anything within the second row is 1 s.d. from the mean, anything withinin the 3rd row is 2 s.d, correct?
Partially to "show my work" and also because....I feel like I know enough to get the right answer, but I don't know enough to be able to do fancy math. I'm more of a "n0 is when EV = 1SD, now figure out the formula" instead of "the formula for n0 is _____" person. Also
@OP: You can also use the following formula to go from SD to %:
https://www.wolframalpha.com/input?i...%2F2%29++du%29
Change the "-1.24" in the formula to whatever SD. The result is the probability of that SD or worse.
Last edited by RS; 02-17-2023 at 06:23 PM.
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
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