How to determine what to set deviation to

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I have a function that’s sets a deviation percentage to each players fantasy points per game. For example, if I set deviation to 50% a player with a projected score of 10 will be given a floor of 5 points and a ceiling of 15 points then the function will randomly choose a number between the floor and ceiling. However, every slate has a different number of players and therefore a different number of quality players (quality meaning players who aren’t super risky). How could I determine what to set the variance parameter to given a certain amount of players to choose from? Could I use the population average standard deviation - meaning take every player’s std then average all of them? Or is there a different approach that would work better for this particular problem?