A debate recently erupted about the optimal strategy for playing a game on the TV show called
Question:
a. Suppose a contestant is allowed to play this game 500 times, always picks door number 1, and never switches when given the option. If the valuable prize is equally likely to be behind each door at the beginning of each play, how many times would the contestant win the valuable prize? Use simulation to answer this question.
b. Now suppose the contestant is allowed to play this game another 500 times. This time, the player always selects door number 1 initially and switches when given the option. Using simulation, how many times would the contestant win the valuable prize?
c. If you were a contestant on this show, what would you do if given the option of switching doors?
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Related Book For
Spreadsheet Modeling And Decision Analysis A Practical Introduction To Business Analytics
ISBN: 9780357132098
9th Edition
Authors: Cliff Ragsdale
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