"no" added to noun

Hi,

1. In "A new actor is no good. ",

The "no" used to say waht? I consider the configuration of "no + noun" is in this way that
1. To exist, happen, or to be done, the thing that a new actor is good is not able.
2. It is not possible that a new actor is good.
3. There is no passibility (attached to) that a new actor is good.

2. In No smoking,

The no used to say:
1. Smoking is not able to exist, happen or to be done.
2. There is no passibility (attached to) smoking.
3. Smoking is not possible.

Is it true to life?

Thanks for your help.

If the belows are justified?

1. The thing is / shows / has possibility.
= There is possibility (attached to) the thing.
2. There is a strong possibility (attached to) I won't be back by the weekend.
= I won't be back by the weekend is / has / shows within a strong possibility.