- #1
rxbandits
- 5
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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 100%; structured (approximately) in this way:
If there were 35 entrants, 7 places would be paid.
1st would get 37%
2nd would get 26%
3rd would get 17%
4th would get 10%
5th would get 5%
6th would get 3%
7th would get 2%
How can I represent this with a formula when I have 2,000 entrants? What about 6 entrants?
To say it one other way: 20% of the field will be paid a percentage based on a formula that slopes in the way I've illustrated above with the 7 places paid example.
7 places paid with the rate of 2-3-5-10-17-26-37 is a function I came up with based loosely on 1-4-9-16-25-36 or 12-22-32-42-52-62 (with some number fudging added to make the total equal 100% - though there has to be a more elegant way to do that...)
Thanks so much for any guidance you can offer!
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 100%; structured (approximately) in this way:
If there were 35 entrants, 7 places would be paid.
1st would get 37%
2nd would get 26%
3rd would get 17%
4th would get 10%
5th would get 5%
6th would get 3%
7th would get 2%
How can I represent this with a formula when I have 2,000 entrants? What about 6 entrants?
To say it one other way: 20% of the field will be paid a percentage based on a formula that slopes in the way I've illustrated above with the 7 places paid example.
7 places paid with the rate of 2-3-5-10-17-26-37 is a function I came up with based loosely on 1-4-9-16-25-36 or 12-22-32-42-52-62 (with some number fudging added to make the total equal 100% - though there has to be a more elegant way to do that...)
Thanks so much for any guidance you can offer!
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