Article on optimal strategy for "The Price Is Right" games

[thguy65]

http://www.slate.com/articles/arts/cult ... d_the.html

Spoiler

[Bob78164]

The description of the strategy for Lucky Seven can't be right. The suggested strategy is dominated by using the same strategy except that you pick 9 - (allowable error) (instead of 10 - allowable error) for the last pick. --Bob

[Pastor Fireball]

The description of the strategy for Lucky Seven can't be right. The suggested strategy is dominated by using the same strategy except that you pick 9 - (allowable error) (instead of 10 - allowable error) for the last pick. --Bob

Actually, [9 minus allowable error] on the last pick is the best strategy because the final number in a Lucky Seven over the past several years has more often than not been a 9. If you can afford to lose $2 on the final number, then you should guess 7 because it covers 5, 6, 7, 8, and 9. Using your suggestion of [10 minus allowable error] means that, if you had that same $2 to spare, you would guess 8 and cover 6, 7, 8, and 9--one fewer number. Zero would not be covered for two reasons: 1) zeroes are always low, and 2) zeroes haven't been used in Lucky Seven prices in over 25 years.

[Bob78164]

The description of the strategy for Lucky Seven can't be right. The suggested strategy is dominated by using the same strategy except that you pick 9 - (allowable error) (instead of 10 - allowable error) for the last pick. --Bob

Actually, [9 minus allowable error] on the last pick is the best strategy because the final number in a Lucky Seven over the past several years has more often than not been a 9. If you can afford to lose $2 on the final number, then you should guess 7 because it covers 5, 6, 7, 8, and 9. Using your suggestion of [10 minus allowable error] means that, if you had that same $2 to spare, you would guess 8 and cover 6, 7, 8, and 9--one fewer number. Zero would not be covered for two reasons: 1) zeroes are always low, and 2) zeroes haven't been used in Lucky Seven prices in over 25 years.

I think you've misunderstood me. The image in the original post suggests [10 minus allowable error]. I corrected it to [9 minus allowable error]. --Bob

[ghostjmf]

I heard this guy interviewed on NPR. Yeah, he would like to get on some shows just to use his strategies. I don't think he's on any show's short list, though.