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Adding to this - suppose we are playing on 8 tables, we see a player who we don't recognize, they're only on one table, and we saw them showdown 84o from UTG in the only hand we've seen them play.
Do I need to see 1k+ hands in order to figure out that this guy isn't one of the 12 VPIP nits you see at the zoom tables?
The question is degrees of precision. Yes you maybe could justifiably assume that the player you describe has a VPIP >12 (most likely, but maybe he misclicked that particular hand and caught a good flop - beware of making conclusions based on a sample size of 1). That doesn’t tell you much about what his VPIP actually is numerically. Maybe he just likes 84 and thinks that is his “lucky hand” and plays a really tight range other wise. Maybe he likes to get caught playing a crap starting hand in any given session to make opponents think he is an idiot. You can’t conclude anything quantitatively from that one hand.
And the number of hands you need depends on how accurate you want your estimate to be. Generally speaking the accuracy depends on the inverse square root of the number of hands. In simpler terms, if we know the accuracy to 1% (which my prior post shows that it takes about 10k hands to get), if we decided that 2% is sufficient, then we need 1/4 of the number of hands, or in this case about 2500. If 3% is good enough then about 1100 hands would do. In the other direction if we wanted twice the accuracy - 0.5% - we need 4x as many hands or 40K.
HUDs are useful, but beware the use of stats for small numbers of hands. If you have 100 hands on a villain and a VPIP of 40, that could reasonably be anywhere from 30-50% for his actual VPIP.