THE BIG DEAL!

On a game show, you have already won wonderful prizes! At the end of the show, the host gives you the opportunity to trade in your prizes to select one of three doors. Behind one of the three doors is the “Big Deal”, a prize worth more than what you have won up until this point.

Would you be willing to trade in what you have already won for a chance at the big deal?

What would factor into your decision?

So far on the show, you have won $7,000 in prizes. The “Big Deal” is worth $20,662. If you go for the “Big Deal”, you will choose one of three doors.

Would you be willing to trade in what you have already won for a chance at the big deal?

Explain your reasoning.

What information helps make your decision?

So far on the show, you have won $7,000 in prizes. The “Big Deal” is worth $20,662. The other two doors have values of $3,576 and $7,800.

Does knowing the values of all 3 doors change your decision?

So far on the show, you have won $7,000 in prizes. The “Big Deal” is worth $20,662. The other two doors have values of $3,576 and $7,800.

Given the information about all 3 doors, what is the maximum amount of winnings you would give back, in order to go for the “Big Deal”?

Develop a rule which helps a contestant decide when to go for the “Big Deal”.