I've done some testing by myself, here are the results:
All tests done with the human race and on normal mode, using the goblin in the beginning cellar as the damage doer. Tests done over many times. The goblin has a chance of 50% to hit. Character has no traits/skills.
No armor (0): goblin does 5 - 11 per hit
Begginer's armor (19): goblin does 3 - 10 per hit
Just my two cents...
Note: Begginer armor means all you can find in the first room that provides some armor, it consists of: Leather Armor (10 armor bonus), Wooden Shield (6 armor), Sandals (2 armor) & Poor Leather Helmet (1 armor). Total armor bonus = 19.