# Home Free-Analysis Sheet 2016.docx - Analysis Sheet Game...

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Analysis Sheet Game Overview There are 15 toolboxes, each containing a prize of a set value. As the contestant, you must begin the game by randomly selecting one toolbox. The value hidden in your chosen toolbox is what you will win if you choose to keep it throughout the game, but you will have multiple chances to trade it in for a guaranteed prize. The game show host, the General Contractor (GC), has two roles: She narrates the game. She offers you the options to accept prizes of a guaranteed value at set points during the game. NOTE: When the GC makes you an offer, she determines the amount of her offer by considering the likelihood that you are holding a high value prize in your toolbox. If your chances of having a big prize in your toolbox are not very high, she will offer you a smaller prize value. The image on the next page is what the game show will look like to you as the contestant. As you play the game, this screen image will adjust with the necessary changes. This first screen shows that you randomly selected Toolbox 9, but you don’t know what prize it contains.
The GC exclaims, “Let Round One begin! Contestant, open four toolboxes!” The screen below shows the toolboxes you open and the corresponding values you eliminate. You opened and eliminated toolboxes 3, 7, 11 and 14. They held the following values: \$500 \$5,000 \$25,000 \$75,000 (Bummer! This would have been enough to renovate a kitchen and bathroom!) This is where your work begins.
1. Knowing that you just eliminated four prizes, calculate the average value of all the unopened toolboxes. Show your work.
2. What is the median value of the remaining toolboxes? Show your work. Explain why this number is important.