Imagine a Game Show on Television Where One Lucky Contestant $\frac { 1 } { 8 }$

question 65

Multiple Choice

Imagine a game show on television where one lucky contestant is presented with four upside-down buckets that are numbered 1, 2, 3, and 4. Under one of the buckets is a large pile of $100 bills. Under each of the other three buckets is exactly one $5 bill. After the game ends, the contestant will receive the amount of money that is under his or her bucket.
The host of the game show asks the contestant to choose one of the four buckets. After the contestant makes a choice, the host lifts up two of the remaining three buckets to reveal a $5 bill under each of them. At this point, only two buckets remain uncovered: the bucket that the contestant originally chose and the bucket that was not uncovered by the host.
The host subsequently asks the contestant if he or she would like to keep the original bucket or change buckets to the only other bucket remaining.

-If the contestant does not change buckets and stays with the original bucket chosen, what is the probability that the contestant will win the stack of $100 bills?

• A) \(\frac { 1 } { 8 }\)
• B) \(\frac { 1 } { 4 }\)
• C) \(\frac { 1 } { 2 }\)
• D) \(\frac { 3 } { 4 }\)
• E) \(\frac { 5 } { 8 }\)

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Definitions:

Largest Values

The highest numbers or quantities in a data set, often used in statistical analysis to determine the upper extremities.

Outlier

A data point that significantly differs from other observations in a data set, often indicating variability in a measurement or a novel discovery.

Mean

The arithmetic average of a set of values, calculated by adding all the values and dividing by the count of values.

Revenues

Revenues represent the total income generated from the sale of goods or services before any expenses are subtracted.