Hi Everyone,
Welcome to the ‘Buying and Selling Game’ Contest 9 results post. This post contains a video of the ‘Buying and Selling’ Excel Model generating the selling prices for each good from each city or town.
Winner determined in this video
What is the Buying and Selling Game?
For the benefit of those who have not entered this contest, here is a brief explanation of how the game works.
Participants are required to buy goods with an allocated amount of money. They are given a choice of 6 goods and all these goods are available in any of the 5 towns, cities or planets in the game. The buying prices of all goods are provided in the question.
The participants are then required to sell all of their goods on a future date (I often refer to this as Day 7, to align with number days until post payout). The selling prices for all goods in all towns, cities or planets are not provided. Instead, the question provides a minimum, maximum, and mode selling price for each good in each town, city or planet.
The participant that has the most money after selling all his or her goods is the winner.
Responses to the contest are made in the comments section of the post. If several participants end up with the same amount of money, the person who entered (commented) first will win. The format of the required entry is explained in detail in the contest itself.
For a more detailed explanation, you can access the contest post using the following link.
Results of the contest
Table 1 contains the selling prices generated by the ‘Buying and Selling’ Game model for each home entertainment item in each city or town.
Table 1: Selling prices of home entertainment items
Table 2 contains responses and the profit made by each participant.
Table 2: Participant responses and profit
The winner of the ‘Buying and Selling’ Game contest is @practicaleric. He made a profit of approximately $56,631 (26,050 + 19,070 + 11,501).
In Spaceage Town, he bought 100 game consoles at $200 each. He paid total of $20,000.
In Serious City, he bought 332 radios at $60 each. He paid total of $19,920.
In Laidbacks Ville, he bought 168 stereos at $60 each. He paid total of $10,080.
In Serious City, he sold the 100 game consoles at $460.60 each. He received a total of $46,060. Therefore, he made a profit of $26,060 (46,060 – 20,000).
In Spaceage Town, he sold the 332 radios at $117.44 each. He received a total of $38,990. Therefore, he made a profit of $19,070 (38,990 – 19,920).
In Serious City, he sold the 168 stereos at $128.46 each. He received a total of $21,581. Therefore, he made a profit of $11,501 (21,581 – 10,080).
Congratulations @practicaleric, you have won 20 Hive.
Highest possible profit
The strategy that would have generated the highest profit would have been to buy 250 game consoles from Spaceage Town at $200 each and then selling them at Serious City for $460.60 (as generated by the model). This would have generated a profit of $65,150.
Table 3 contains the lowest buying prices, the highest selling prices and the highest profit for selling each home entertainment item.
Table 3: Lowest buying price and highest selling price
I would also like to thank @steemflow for participating in the contest.
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