A prize is placed at random in one of three boxes. You pick a box (and do not open it). Now, the dealer (who knows where the prize is) chooses one of the other two boxes, opens it and shows you that it is empty. She then gives you the opportunity to keep your original box or switch to the other unopened box. Find the probability of winning the prize if you switch. Find the probability of winning the prize if you stay. Should you stay or switch?

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A prize is placed at random in one of three boxes. You pick a box (and do not open
it). Now, the dealer (who knows where the prize is) chooses one of the other two boxes,
opens it and shows you that it is empty. She then gives you the opportunity to keep your
original box or switch to the other unopened box. Find the probability of winning the
prize if you switch. Find the probability of winning the prize if you stay. Should you stay
or switch?
Transcribed Image Text:A prize is placed at random in one of three boxes. You pick a box (and do not open it). Now, the dealer (who knows where the prize is) chooses one of the other two boxes, opens it and shows you that it is empty. She then gives you the opportunity to keep your original box or switch to the other unopened box. Find the probability of winning the prize if you switch. Find the probability of winning the prize if you stay. Should you stay or switch?
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