Rebecca v My Home Courses Catalog and Study Tools Rental Options College Success Tips Career Success Tips Help Give Feedback H ng.cengageicom a w MindTap - Cengage Learning '2: CENGAGE | MINDTAP Problems: Chapters 17, 19, and 20 Back to Assignment Attempts 0.7 I I Average 0.7/2 1 . Individual Problems 1.7-2 You're a contestant on a TV game show. In the nal round of the game, if contestants answer a question correctly, they will increase their current winnings of $2 million to $3 million. If they are wrong, their prize is decreased to $1,000,000. You believe you have a 10% chance of answering the question correctly. Ignoring your current winnings, your expected payoff from playing the nal round of the game show is $ . Given that this is v , you 7 play the nal round of the game. (Hint: Enter a negative sign if the expected payoff is negative.) The lowest probability of a correct guess that would make the guessing in the nal round protable (in expected value) is v , (Hint: At Continue without saving what probability does playing the nal round yield an expected value of zero?) Q Search this course 0X