btaylor1978 wrote:I understand your reasoning, but I think using as many as possible makes things more accurate. I throw out the highest and lowest ranking for each player anyway, but I like including as many sources as possible to give the truest representation.
By the way, could someone explain to me what "Standard Deviation" is? Thanks! I've had more than one person tell me it would be useful and easy to include since I'm using Excel, but I don't know what it is!
Thanks!
basically its a measure of dispersion (or variation) in the sample. it measures how spread out the numbers are. there seems to be a pretty solid consensus that vlad is the #3 pick. maybe a few rankings he is #4. since there is very little variation in his rankings he has a low standard deviation. someone else like soriano or sizemore will likely have a higher standard deviation. a high standard deviation for someone in the top 50 or 100 means that the sources have a hard time agreeing on that players rankings. standard deviation isnt quite as useful outside of the top 100. the difference between a ranking #150 and #170 isnt nearly as big as the difference between #30 and #50.
if you have excel, the formula is pretty simple. its "=stdev(data set)" without the quotes. the data set would just be all the rankings for that particular player.