A contestant on a quiz show is presented with two questions, questions 1 and 2,

Question

A contestant on a quiz show is presented with two questions, questions 1 and 2, which he is to attempt to answer in some order he chooses. If he decides to try question i first, then he will be allowed to go on to question j, j not = to i, only if his answer to question i is correct. If his initial answer is incorrect, he is not allowed to answer the other question. if he is 60% certain of answering question 1, worth$200, correctly and he is 80% certain of answering question 2, worth $100, correctly. Which question he should try first as to maximize his expected winnings?

Explanation / Answer

Expected winning if he answer question 1 first

= 0.6x200 + 0.6x0.8x100

= 120+48 = $168

Expected winning if he answer question 2 first

= 0.8x100 + 0.8x0.6x200

= 80 + 96 = $176

So, to maximize his expected winning, he should answer question 2 first

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