018 - on the relative frequency approach
While the relative frequency approach depends upon the fact that an experiment can be repeated under identical conditions, probabilities can be assigned to other situations by treating them as a rational measure of belief.
Thus if one truly believes that an event, E has a probability of occuring one in two times, and we assume that that is true unless proven otherwise, then p = ½. Assuming that E is something as trivial as a coin toss, then it would be safe to assume that p = ½.
Poker and blackjack, however, differ slightly from the example of the coin toss. There are 52 cards in a deck, and depending on how a deck is divided, the fractions can vary. Consider, too, that casinos often use multiple decks and at that, only a part of one. However, it can be done, as the students at MIT have proven time and time again.
This is a statistically viable topic to explore. Interestingly, our experiments are coming up short. I assume that this is due to the lack of an experienced dealer amongst the group. Nonetheless, we persist. The equations will come out at some point.
Thus if one truly believes that an event, E has a probability of occuring one in two times, and we assume that that is true unless proven otherwise, then p = ½. Assuming that E is something as trivial as a coin toss, then it would be safe to assume that p = ½.
Poker and blackjack, however, differ slightly from the example of the coin toss. There are 52 cards in a deck, and depending on how a deck is divided, the fractions can vary. Consider, too, that casinos often use multiple decks and at that, only a part of one. However, it can be done, as the students at MIT have proven time and time again.
This is a statistically viable topic to explore. Interestingly, our experiments are coming up short. I assume that this is due to the lack of an experienced dealer amongst the group. Nonetheless, we persist. The equations will come out at some point.