Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Jun 2017 My Price 9.00

maximize the expected amount of money won

I am a contestant on the popular TV show “Tired of Fortune.” During the bonus round, I will be asked up to four questions. For each question that is correctly answered, I win a certain amount of money. One incorrect answer, however, means that I lose all the money I have previously won, and the game is over. If I elect to pass, or not answer a question, the game is over, but I may keep what I have already won. The amount of money I win for each correct question and the probability that I will answer each question correctly are shown in Table.

 

Probability of Correct

 

Question

Answer

Money Won

1

.6

$10,000

2

.5

$20,000

3

.4

$30,000

4

.3

$40,000

a My goal is to maximize the expected amount of money won. Use dynamic programming to accomplish this goal.

b Suppose that I am allowed to pass, or not answer a question, and still go on to the next question. Now determine how to maximize the amount of money won.

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Jun 2017 10:06 PM My Price 9.00

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