document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=872573>Question 872573</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In a TV game show, 4 prizes are hidden on a game board that contains 20 spaces.<BR>\n" );
document.write( "One prize is worth $10,000, two prizes are worth $5,000 each, and one prize is<BR>\n" );
document.write( "worth $1,000, with the remaining spaces containing no prize.  The show's host<BR>\n" );
document.write( "offers a contestant their choice of $1,000 (for not playing) or the opportunity to select one space on the game board.  How much greater is the expected value of picking a space on the board than not playing the game? I think I got it figured out but I'm still not sure. \r<BR>\n" );
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document.write( "A.$50<BR>\n" );
document.write( "B.$100<BR>\n" );
document.write( "C.$1,000<BR>\n" );
document.write( "D.$4,500<BR>\n" );
document.write( "E. The expected value is greater for not playing the game than it is for playing it. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #526238 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=526238\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> In a TV game show, 4 prizes are hidden on a game board that contains 20 spaces.<BR>\n" );
document.write( "One prize is worth $10,000, two prizes are worth $5,000 each, and one prize is<BR>\n" );
document.write( "worth $1,000, with the remaining spaces containing no prize. The show's host<BR>\n" );
document.write( "offers a contestant their choice of $1,000 (for not playing) or the opportunity to select one space on the game board. How much greater is the expected value of picking a space on the board than not playing the game? I think I got it figured out but I'm still not sure.<BR>\n" );
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document.write( "Random \"win\" values...... 10,000......5000....1000....0<BR>\n" );
document.write( "Probabilities.............1/20.......2/20.....1.20...16/20<BR>\n" );
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document.write( "Expected \"win\" value = [10,000 + 2*5000 + 1000)/20 = 21000/20 = $1050<BR>\n" );
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document.write( "Answer:: $50<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
document.write( "--------------------- <BR>\n" );
document.write( "A.$50<BR>\n" );
document.write( "B.$100<BR>\n" );
document.write( "C.$1,000<BR>\n" );
document.write( "D.$4,500<BR>\n" );
document.write( "E. The expected value is greater for not playing the game than it is for playing it.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );