Comments on: Lessons Learned from Who Wants To Be A Millionaire

By: Daniel

Daniel — Tue, 23 Mar 2010 00:57:07 +0000

@Budgeting in the Fun Stuff, completely agree with both of you. You can play online, it's a little addicting because mathematically you should often keep picking, but one unlucky move and you're like every other shmoe and look silly. If I were on, I'd set a limit of $50,000 and once I got there, I'd stop. .-= DanielÂ´s last blog ..Best of the Rest: Saying Goodbye Edition =-.

By: Budgeting in the Fun Stuff

Budgeting in the Fun Stuff — Tue, 23 Mar 2010 00:24:38 +0000

@sahmCFO, Deal or No Deal...those people who had a chance and didn't take it drove me crazy too. .-= Budgeting in the Fun StuffÂ´s last blog ..Do Your Kids Receive an Allowance? =-.

By: sahmCFO

sahmCFO — Mon, 22 Mar 2010 20:13:11 +0000

Another game show where the “greediness” drives me crazy is that, crap what’s the name, the Howie Mandel one with the suitcases. Anyway, I can’t even watch that show, while it’s a mostly a game of chance I’ve seen so many people keep going for the “big bucks” and LOSE when they could have easily walked away with 50k for doing nothing except picking a suitcase!! No real lessons save greed on that show I guess, RANT over:)
.-= sahmCFOÂ´s last blog ..Yakezie Link Love for my 5 Year Anniversary =-.

By: harvestwages

harvestwages — Fri, 19 Mar 2010 13:05:12 +0000

Hey dude,
i also love this program (who wants to become a millionaire), but i hardly have time to watch.
With this post, i will certainly start watching.
.-= harvestwagesÂ´s last blog ..Top 5 Social Media Business Models For Entrepreneurs =-.

By: Jason @ Redeeming Riches

Jason @ Redeeming Riches — Fri, 19 Mar 2010 11:25:59 +0000

I used to love this show when it first came out! Good lesssons – especially “don’t get greedy”. Seems like that’s all our biggest downfall sometimes!
.-= Jason @ Redeeming RichesÂ´s last blog ..How to Tell if Money Has Become Your Idol =-.

By: Daniel

Daniel — Fri, 19 Mar 2010 10:21:27 +0000

@Ira, under this new system, they have one person beforehand that the studio picks as a "celebrity." By random, I meant their knowledge compared to the average audience member. Based on what I've seen, the audience is right even at the higher levels. Most ask the audiences are used toward the beginning, but occasionally the contestant gets passed the first 5 or 6 questions without using it and the audience still beats the "expert" on average. .-= DanielÂ´s last blog ..Interview Series: Eliminate the Muda =-.

By: Ira

Ira — Thu, 18 Mar 2010 23:51:56 +0000

Interesting analysis. Two comments:
1) I don’t think contestants pick a “random” person – they usually pick someone who they think would be knowledgable. The problem, I assume, is that the person may not be knowledgable about the specific question.

2) Do you really have the statistics for accuracy for audience vs. lifeline? The way to do it is to compare percentage right at the same $ level (that is, $4000 vs. $100,000).

Ira

By: myfinancialobjectives

myfinancialobjectives — Thu, 18 Mar 2010 20:46:55 +0000

I know I wouldn’t get past the third question without a lifeline, I’d be happy walking away with $5000 haha.

Also, thanks for the link!!!
.-= myfinancialobjectivesÂ´s last blog ..The Ultimate Motivator: Compounding Interest =-.

By: Budgeting in the Fun Stuff

Budgeting in the Fun Stuff — Thu, 18 Mar 2010 19:50:20 +0000

@Daniel, I can see that. I never want to be on those shows since I'd make a complete fool out of myself...trivia is not my mental thing, but I love watching it! .-= Budgeting in the Fun StuffÂ´s last blog ..Charity Work - Does it Count? =-.

By: Daniel

Daniel — Thu, 18 Mar 2010 15:04:04 +0000

@Budgeting in the Fun Stuff, That's definitely true, but even when they are asked harder questions, they do a very good job. Maybe that drops to 70% at worst, but I'd rather have the ability to look at the distribution of 300 people than pinning my hopes on one random person.

By: Little House

Little House — Thu, 18 Mar 2010 13:50:08 +0000

I'll remember these tips if I ever decide to participate in Who Wants to be a Millionaire! ;) Thanks for mentioning my post. These mini-carnivals always drive traffic! .-= Little HouseÂ´s last blog ..Tuesday Tips =-.

By: Budgeting in the Fun Stuff

Budgeting in the Fun Stuff — Thu, 18 Mar 2010 13:43:15 +0000

Just to be the devil’s advocate, maybe the audience is right 95% of the time and the expert is only right 50% of the time simply because the audience is always asked the easier question?

Loved the post…very fun!
.-= Budgeting in the Fun StuffÂ´s last blog ..Charity Work – Does it Count? =-.

By: Money Beagle

Money Beagle — Thu, 18 Mar 2010 11:41:38 +0000

Great article, I love when we can apply things in everyday life and pop culture to our personal finance situations. .-= Money BeagleÂ´s last blog ..The Great Ranch Dressing Conspiracy =-.