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.
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