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Monte Carlo Simulation: When Should A Contestant Stop Spinning?, Gregory Horn
Monte Carlo Simulation: When Should A Contestant Stop Spinning?, Gregory Horn
All Student Theses
Every episode of the popular game show The Price Is Right contains two rounds called The Showcase Showdown or The Big Wheel. During these rounds, three contestants spin a large wheel that consists of monetary values from five cents through one dollar in 5 cent increments. The object of this game is to get closest to one dollar without going over in one or a combination of two spins. The two winners of these rounds get to compete for the most valuable prizes at the end of each show. Monte Carlo simulation will be used to find the range of …