Friday, July 26, 2019

The Ultimate Price is Right Strategy Guide: Grand Game

Grand Game

Rules
Six grocery items are shown as is a target price. Four of the items have an actual retail price less than the target price. The contestant starts with $1 and picks items one at a time. Each time they are right, their winnings multiply by 10. If their first, second, or third guess is wrong, the game ends and the contestant leaves with whatever winnings they have at that time. If the contestant gets the first three products right, they have a choice: quit the game leave with $1,000 or continue and try for $10,000. If they continue and are correct about their last choice, they win $10,000; however, if they are wrong on their last pick, they leave with $0.

Random fact
The first Grand Game winner was a rather memorable one:

Win-loss record
  • Actual (seasons 29-46): 139-270 (33.99%)
    (Note: bailouts after the third item count as losses. However, there have only been 7 of them.)
  • Probability of winning by random chance: 1/15 (6.67%)
Item #X was above the target price...(seasons 40-46)
  • 1 (left most product): 44 playings (14.10%)
  • 2: 46 playings (14.74%)
  • 3: 70 playings (22.44%)
  • 4: 58 playings (18.59%)
  • 5: 51 playings (16.35%)
  • 6 (right most product): 43 playings (13.78%)
Strategy
  • Forget about the target price. What you're really trying to do is pick out the four cheapest items. So for each of your picks, simply choose what you think the cheapest item is. 
  • Forget about the bailout. Even if you just pick the last product by random chance, your cash will increase, on average, by $2,333.33.
  • "Pick the endpoints" can guide--but not rule--you. Not surprisingly, the left-most and the right-most products are the least frequent products to be over the target price, as contestants don't generally like picking items on the end when given a choice. Note they're not so frequently correct choices compared to the other products that I can say you should always pick them. However, if you're completely clueless, then it's a good place to start.

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