Reference no: EM131644545

Question: You have made it to the final round of the show Let's Make a Deal. You know that there is a $1 million prize behind either door 1, door 2, or door 3. It is equally likely that the prize is behind any of the three doors. The two doors without a prize have nothing behind them. You randomly choose door 2. Before you see whether the prize is behind door 2, host Monty Hall opens a door that has no prize behind it. Specifically, suppose that before door 2 is opened, Monty reveals that there is no prize behind door 3. You now have the opportunity to switch and choose door 1. Should you switch?

Simulate this situation 1000 times. For each replication use an @RISK function to generate the door that leads to the prize. Then use another @RISK function to generate the door that Monty will open. Assume that Monty plays as follows: Monty knows where the prize is and will open an empty door, but he cannot open door 2. If the prize is really behind door 2, Monty is equally likely to open door 1 or door 3. If the prize is really behind door 1, Monty must open door 3. If the prize is really behind door 3, Monty must open door 1.