Comments on: Deal or No Deal – Part 3 – Reader Poll

By: Did she win the $1 Million? « How to Make 7 Million in 7 Years™

Did she win the $1 Million? « How to Make 7 Million in 7 Years™ — Tue, 10 Mar 2009 09:18:44 +0000

[...] I want to recap on the post; I wanted to know if you would take the banker’s offer in this unique [...]

By: Left Brain v Right Brain « How to Make 7 Million in 7 Years™

Left Brain v Right Brain « How to Make 7 Million in 7 Years™ — Sat, 21 Feb 2009 08:55:27 +0000

[...] helps to explain why the real answer to the Deal or No Deal conundrum is “Not Sure” [...]

By: Steve

Steve — Thu, 05 Feb 2009 03:20:35 +0000

I chose deal, I don’t know how I would have gotten to that point in the first place, but $677k is better than walking away with only say $300.00 suit case.
I could make great use of that 677k , so the extra few dollars(if I would have hit the million) wouldn’t matter that much.

By: Good deal or bad deal? « How to Make 7 Million in 7 Years™

Good deal or bad deal? « How to Make 7 Million in 7 Years™ — Tue, 03 Feb 2009 09:09:38 +0000

[...] No, this is NOT another ‘Howie Mandel-style’ game show … I’m done with that series (aside from a couple of wrap-up posts, still to [...]

By: Michael

Michael — Mon, 02 Feb 2009 22:55:33 +0000

I think it all depends on the effect the money will have on the person, her life, and her plan. If the banks offer is enough money to be a game changer, then take the deal. If the amount is too low to really make a difference, then go for the million.

As for me, I’d take the deal. An extra $677k would push me ahead on my journey about 4 or 5 years… truly a game changer for me.

But, Rick has a point. Maybe $677k makes just as much a difference as $450k, so why not go for the million? Still, for me, I’d take the $677k.

By: Rick Francis

Rick Francis — Mon, 02 Feb 2009 22:43:55 +0000

If they offer 10% less than the expected value then going again is risking a loss of $77K to gain $323K with a 75% chance of success. I would definitely try again!

If I was wrong again, then the offer goes down to $600,000, there are 2 $1 million cases and 1 $300 case left.

Going again is risking $150K for $400K gain with a 66% chance of success. I would go again.

If I was wrong again the offer drops to
$450,000 with 1 $1 Million and 1 $300 case.

At that point it’s risking $449,700 to make $550,000 with only a 50/50 shot at success. Mathematically it seems to make sense to go one more time, but I wouldn’t.

Why? The utility of the additional money is NOT linear for me. Getting $450K would make huge changes in my life. However, I don’t think that the $1M would result in even twice as much of a difference. Because of that I would not be willing to risk the $450K and would take the sure thing.

-Rick Francis

By: adan

adan — Mon, 02 Feb 2009 22:15:49 +0000

I think that I’m with Julie on this one…I would take the next offer. I think I would try to get just a little more out of the banker and if it doesn’t go my way then definitely pull the plug. If the Wealthy Canadian number’s are correct I would really only lose about $10,000 for an opportunity to increase the pot by $323,000 (a guaranteed win).

Adan

By: Steve Miller’s vote is in! « How to Make 7 Million in 7 Years™

Steve Miller’s vote is in! « How to Make 7 Million in 7 Years™ — Sun, 01 Feb 2009 08:57:32 +0000

[...] about you? Have you cast your vote [...]

By: Mike Hunt

Mike Hunt — Sat, 31 Jan 2009 06:31:22 +0000

As Steve Miller would say:

“Go on, take the money, and run. Woo hoo hoo”

-Mike

By: House or Home? «

House or Home? « — Fri, 30 Jan 2009 21:01:20 +0000

[...] you cast your vote [...]