Herald Apartment Competition (1 Viewer)

[Jim Daniels]

The Evening Herald is running this competition to win an apartment in Dublin.
The lowest bid (that is not repeated by anybody else) wins.

There are a possible 100 bids between 0 and 1 Euro
There are a possible 1000 bids between 1 and 10 Euro etc

You need 10 tokens to make a single bid (1 token in each paper)
To cover all options between 0 and €1 will cost you 1000 tokens = €1000

I want to win this.
Whats the odds of all possible bids of between 0 and €5 being used by more than one person or syndicate?
That 500 possible bids, costing €5,000

The Herald claims to have €80,000 readers everyday.

This is far too hard.
Anybody do Maths/ Stats in college?

 

[classic seanc]

Is the upper limit €10, or can you go as high as you want?

 

[Jim Daniels]

Is the upper limit €10, or can you go as high as you want?

As high as you want.
You win if there is no lower un-repeated bid.

I'd say there is at least one gambler/ syndicate out there willing to risk at least €5,000 to win €300,000

 

[THRILLHO]

What happens if there are no unrepeated bids?

They did something like this before and yeah, like you said, a syndicate won it.

 

[classic seanc]

This changes things completely,

I wouldn't even bother with anything under €10. Off the top of my head I'd say......500 random numbers between €500 and €10000, avoiding numbers ending in 0.
What was the winning bid last time? You can expect those sales of the her'ild to triple at least for this competition.

 

[krystal]

it's in park west, in an enormous soon to be ghetto of faceless massive blocks bordering the M50 and backing onto many industrial estates and a prison.
you don't want to win it.

 

[classic seanc]

Yes I do Kirstie, yes I do.
In fairness, its probably the best chance most of us have of getting a gaff of our own in this odd odd odd city.

 

[Jim Daniels]

it's in park west, in an enormous soon to be ghetto of faceless massive blocks bordering the M50 and backing onto many industrial estates and a prison.
you don't want to win it.

Yeah, but I want to win it and sell it. That goes against the spirit of the games but still...

 

[Jim Daniels]

This changes things completely,

I wouldn't even bother with anything under €10. Off the top of my head I'd say......500 random numbers between €500 and €10000, avoiding numbers ending in 0.
What was the winning bid last time? You can expect those sales of the her'ild to triple at least for this competition.

Yeah, but, if a syndicate covered all the options between 1 cent- €500 that would mean 50,000 bids which would require 500,000 herald tokens, which would be inpossible to collect by end of April.

I remember sleeping through Permutations and Combinations in Maths in the Leavin'. Maybe Kirstie is right....

 

[Dr Winston Umbogo]

sounds like a pain in the flange.

 

[classic seanc]

I think you'd be better of down the bookies, if you're thinkin of putting this much effort into it. seriously.

oh, and what Anal H said.

 

[deedee]

Yeah, but, if a syndicate covered all the options between 1 cent- €500 that would mean 50,000 bids which would require 500,000 herald tokens, which would be inpossible to collect by end of April.

I remember sleeping through Permutations and Combinations in Maths in the Leavin'. Maybe Kirstie is right....

Last year I stupidly collected the tokens for the 'Highest Bid' auction they had. I collected away and thought I was in with some kind of chance (we get 2 poxy heralds in work everyday, my colleagues even started to give me the coupons they collected at the weekend..). Anyway, some whore of a developer/multimillionaire spent something like 20k buying copies of the Herald and won the fucking competition.

The exact same thing will happen this year. It's a load of me arse. And I'll be renting for the rest of my days.

 

[krystal]

but who would buy it?

Yeah, but I want to win it and sell it. That goes against the spirit of the games but still...

 

[Jim Daniels]

but who would buy it?

SeanC or DeeDee

I'd give them a knock down price

 

[the bongo]

the probably lies not in the feasibility of getting 5000 heralds, that's easy. nor is it in the likelyhood of getting a low bid between 0 and 10 euro. the likelyhood of other syndicates entering is the problem. you need a carefully thought out model to determine what they will spend on this.

or, you spend 150,000 on it and make 150,000 on the competition. in fact, if you set up a business specifically to win the competition, got a loan for 200,000 for the business and won the competition. you'd still be pretty well off. to gaurantee winning you have to bid in single-cent increments up your given investment limit, and then it's simply a matter of out-spending everyone else.

there's probably a better way to get 150,000's worth of tokens though.

you gotta think big people.

 

[Pantone247]

Anyway, some whore of a developer/multimillionaire spent something like 20k buying copies of the Herald and won the fucking competition.

this has actually blown my mind... what a demented country we live in