Gut decisions...good or bad

[Paradox]

Quickly make a decision, the clock is running. Now, without doing any math whatsoever, Which would you do?

Hypothetically, if you were to do a job for 30-day and you could choose your compensation plan, what would you do? tic tic tic

Pay Plan A--- A quarter million dollars ($250,000 ) EACH and every day for 30-days. i.e. At the end of the first week you would have $25K*7= $175,000. You keep this up for the full 30-days.


Pay Plan B--- Take $.01 on the first day then you get double that the next day and so on for a month. i.e. Day1=.01 D2=.02 D3=.04 D4=.08 D5=.16 D6=.32 D7=.64, etc. At the end of the first week you would have .01+.02+.04+.08+.16+.32+.64 for a total of $1.27. You keep this up for the full 30-days.

Do you keep going on plan B, the PROGRESSION, for a full 30-days?

OR

Take the flat salary of $250,000 a day for the 30-days?

Please don't be a spoiler for a few days or so.
Cheers, Paradox

 

[sagefr0g]

you should make this a pole.

gut instinct only, i'd take B :yikes:

 

[Paradox]

I thought I did

I thought I did. Maybe an admin could help me here

Paradox

 

[nightspirit]

I agree. B is the right answer.

 

[Canceler]

Math malfunction

A quarter milllion X 7 = 1,750,000.

Based on what I've heard about grains of corn on a chessboard, I'll guess B as well.

 

[Rspeirsmlb]

My opinion.

I would go with plan A in a heartbeat....Take the $1,000,000+ and run. Invest the million in CD (5-6%) and/or the stock market (10-12% [in theory])and you could make a $50,000-$100,000 income off that per year WITHOUT having a job. I didn't do any math to figure this out, I just took the option that could for surely change your life.....Plan B probably works out to giving you more $, buuutttt if you only have a split decision to make...you know what I would do..

 

[toastblows]

dude, B is the example used to himiliate progression betters...because they think that will be their ultimate goal :laugh: what if you started with a $5 toke....christ the world would run out of money before the month ended :cool2:

 

[Paradox]

Duhhhh

A quarter milllion X 7 = 1,750,000.

Based on what I've heard about grains of corn on a chessboard, I'll guess B as well.

A little embarrassing, but funny.

Paradox

 

[Sonny]

Gut instinct, no math, I would take Plan A.

-Sonny-

 

[Frankie]

I am fairly confident that plan B will make me very, very rich but if I only had 1 second to think and couldn't do math, I'd go with Plan A because it would guarantee me several million dollars.

 

[Frankie]

Let me say further that I don't think anybody (short of someone already a multi-millionaire) would actually choose Plan B in a real world scenario. They even know that Plan B is right but in the real world you'd always, always choose A. On a pop quiz like this you might say B because your guy tells you it is better -- or you think that's the whole point of the question. But in the real world you would always choose A, unless you happen to know the 1 cent number in your head.

 

[bj bob]

I went B

Since I'm a gambler at heart my gut says "B". Let the compounding ride to the moon! Besides, since it's not my money I have no personal risk.

 

[beat320]

Yeah I see choice A (the larger number) and pick that, choice B probably nets more money but us as humans (most of us anyway)will go with the larger number when presented with a decision that needs to be made with little or no thinking..this is probably why some people think that 6:5 blackjack is better than 3:2. or 2 for 1 is better than 2:1...

 

[beat320]

what if another coworker had a 0.44% advantage over you in a competition over this money each day? huzzah!!!

 

[ZMan]

Pay Plan A--- A quarter million dollars ($250,000 ) EACH and every day for 30-days. i.e. At the end of the first week you would have $25K*7= $175,000.

Which is it?
$250,000 per day or $25,000 per day.

Your statement says $250,000 (quarter-million dollars)
Your example is for $25,000 per day * 7 for $175,000

Makes a HUGE difference to me whether it's $250K per day or $25K per day.

 

[Sonny]

Which is it?
$250,000 per day or $25,000 per day.

It should be $250k per day, not $25k. It was a typo.

-Sonny-

 

[EasyRhino]

My instinct was to take B, because of the "grains on a chessboard" thing. At least I'd know I was getting a crapload of money either way.

... if I did the math right, it wasn't as unfair a competition as I expected, though. Probably because it's only for 30 days instead of 64 (chessboard)

 

[SilentBob420BMFJ]

this isnt even close.. i chose B without doing math because clearly this is one of those examples where people are expected to choose the obvious, so i chose the less obvious.. you get 7,500,000 with A, and ~10,700,000 with B.. i honestly didnt think it would be this close, i thot it would be like in the billions for B.. but had i known it would be close, i would have still chosen B, because when you take a double of a double of a double, etc, it gets quite large, whereas with A, your just adding the same amount.. i guess it could boil down to multiplication has a larger impact than adding? of course that is a completely relative statement..

 

[SilentBob420BMFJ]

dude, B is the example used to himiliate progression betters...because they think that will be their ultimate goal :laugh: what if you started with a $5 toke....christ the world would run out of money before the month ended :cool2:

how is B humiliating progression players? this isnt a casino, there is no house edge, and actually, B is the correct answer, so.. and what does tipping $5 have to do with anything? i dunno, im confused by your point..

 

[Mimosine]

My instinct was to take B, because of the "grains on a chessboard" thing. At least I'd know I was getting a crapload of money either way.

... if I did the math right, it wasn't as unfair a competition as I expected, though. Probably because it's only for 30 days instead of 64 (chessboard)

i can't remember if the growth is that drastic at day 30. i think it is, but am not 100%. by 40 days for sure it is off the charts.

well i checked my answer, but won't be a spoiler. i will say this: at 30 days there is only a 25% difference between A and B. I won't say which is the wiener.