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Math Help - payout calculation -please help

  1. #1
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    payout calculation -please help

    Hello everyone. I really could use some help figuring out a payout calculation for a weekly split of funds based on nightly participation.

    Here's my problem, I have to split a set amount of funds each week between a random # of people. I want to award diff amounts based on 3, 4 and 5 nights of participation. Every week is different for the total amount of people.

    example: week earned let's say 300$ and 28 people total
    15 people at 5 nights earn the most
    10 people at 4 nights earning less than 5 nights
    3 people at 3 nights earning less than 4 nights

    I want a simple formula I can enter into Excel for ease of use

    Thank you very much in advance
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  2. #2
    MHF Contributor
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    Quote Originally Posted by zolosio View Post
    Hello everyone. I really could use some help figuring out a payout calculation for a weekly split of funds based on nightly participation.

    Here's my problem, I have to split a set amount of funds each week between a random # of people. I want to award diff amounts based on 3, 4 and 5 nights of participation. Every week is different for the total amount of people.

    example: week earned let's say 300$ and 28 people total
    15 people at 5 nights earn the most
    10 people at 4 nights earning less than 5 nights
    3 people at 3 nights earning less than 4 nights

    I want a simple formula I can enter into Excel for ease of use

    Thank you very much in advance
    I think, to be fair, the payout would be 5x for 15 people,
    4x for 10 people, and 3x for 3 people.

    So you have the sum 5x\cdot{15}+ 4x\cdot{10} + 3x\cdot{3}= 75x + 40x + 9x = 124x = 300.
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