A popular game played in each broadcast of the United States television game show “The Price is Right” has contestants spinning a large wheel comprised of twenty different monetary values (in 5-cent increments from $0.05 to $1.00). A player wins by scoring closest to, without exceeding, $1.00. Players may accomplish this in one or a total of two spins. We develop a spreadsheet modeling exercise, useful in an introductory undergraduate Spreadsheet Analytics course, to simulate the spinning of the wheel and to determine optimal spinning strategies.
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.
Willoughby, Keith A.
Spinning the Big Wheel on “The Price is Right”: A Spreadsheet Simulation Exercise,
Spreadsheets in Education (eJSiE):
1, Article 2.
Available at: http://epublications.bond.edu.au/ejsie/vol4/iss1/2