NKKD Hortons said:
A bit of math here. I just went through the spread sheet for applicants after 26 June 2010. I found a total of 515 forum members in the spread sheet where as 13000/20000 were received last year by CIO. Looking at this I understand that less than 3% of the applicants are forum members. Now, I looked at applicants send in July 2011 spread sheet. I see about 70 forum members have sent out their applications which means the CIO could have roughly received 2333 applications. Only 3 cc charged out of 413 completed by CIO. Sorry, if I am confusing. Does this make any sense so far?
NKKD Hortons
I enjoyed your math work! Although your assumption that ratios similar to last year apply to this year's applicant pool is not entirely scientific, it is nevertheless a useful starting point with which to project application trends.
Assuming that you are correct plus or minus 200 applications, then chances are the CIO has received (roughly) between 2000 and 2500 applications so far.
If we take the maximum possibility, then:
413 completed / 2500 received = 16.52% complete applications received and payment subsequently encashed (total applications)
If we now turn our attention to those who have posted on the forum
3 completed / 70 received = 4.285% completion rate
As you stated, the ratio seems to be very low, and my conclusion, as I have said in other posts as well, is that we are likely to hear of quite a few payments being encashed in the coming weeks. Remember that those who paid by Bank Draft will hear a couple of days later (perhaps even a week later).