Thanks William! No, the problem is not solved. I explain it best in Post 3 of this thread, what exactly I'm struggling with. I believe I'm looking for a polynomial function.
Putting it an entirely different/simpler way:
On the pic of the graph attached (y=x2), there are 7 equidistant points marked. The sum of all the points = 1.
What are the values for the individual points?
What is the formula used to find the values of these points?
Thanks again, sorry...
Poker tournament payouts often follow this type of "exponential" structure. But I'm wondering if there's an acceptable formula to describe it or if the numbers poker tournament directors come up with are entirely arbitrary. http://www.wsop.com/tournaments/payouts.asp
Hello!
Excuse me for my very basic understanding of math. I'll try and present my idea and problem clearly.
I'd like to devise a payout structure for a tournament.
20% of the entrants will be paid. The payout will be an exponentially sloping function. The payout is in percentages that equal...