A quiz game where a person is given two questions (A and B) and must decide which one to answer first. Question A can be answered correctly with probability 0.8 from which the contestant can receive as prize P1,000, while Question B can be answered correctly with probability 0.5 from which the winning contestant can receive as prize P2000. If the first question (whether it is A or B) is answered incorrectly, then the quiz ends and the other question will not be asked nor prize become available. If the first question is answered correctly, then the person is allowed to attempt the second question. Which question should be answered first, and what is the expected winnings of the best strategy?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 75E
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A quiz game where a person is given two questions (A and B)
and must decide which one to answer first. Question A can be
answered correctly with probability 0.8 from which the
contestant can receive as prize P1,000, while Question B can
be answered correctly with probability 0.5 from which the
winning contestant can receive as prize P2000. If the first
question (whether it is A or B) is answered incorrectly, then the
quiz ends and the other question will not be asked nor prize
become available. If the first question is answered correctly,
then the person is allowed to attempt the second question.
Which question should be answered fırst, and what is the
expected winnings of the best strategy?
Transcribed Image Text:A quiz game where a person is given two questions (A and B) and must decide which one to answer first. Question A can be answered correctly with probability 0.8 from which the contestant can receive as prize P1,000, while Question B can be answered correctly with probability 0.5 from which the winning contestant can receive as prize P2000. If the first question (whether it is A or B) is answered incorrectly, then the quiz ends and the other question will not be asked nor prize become available. If the first question is answered correctly, then the person is allowed to attempt the second question. Which question should be answered fırst, and what is the expected winnings of the best strategy?
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