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WHIP stands for Walks plus Hits per Inning Pitched, and it measures how many baserunners a pitcher allows per inning, on average. It's calculated as (walks + hits) / innings pitched.

Both walks and hits put a runner on base and create scoring opportunities for the opposing team, so combining them gives a more complete picture of how often a pitcher allows baserunners than looking at hits alone. This makes WHIP a good complement to ERA, which only tracks runs actually scored.

In modern MLB, a WHIP below 1.00 is considered elite, around 1.30 is roughly league average, and above 1.50 is generally considered poor. A WHIP of exactly 1.00 means the pitcher allows, on average, exactly one baserunner per inning.

ERA measures actual runs allowed, while WHIP measures baserunners allowed regardless of whether they eventually scored. A pitcher can have a low WHIP but a higher ERA if they allow runners but strand them, or the reverse if they allow few runners but those runners tend to score.

No, the standard WHIP formula only counts walks and hits, excluding hit-by-pitches, errors, and fielder's choices even though those also put runners on base. This means WHIP slightly understates the total baserunner traffic a pitcher is actually responsible for allowing.