In the TV game show The Price is Right, contestants have to spin a wheel with a hundred amounts ranging from 1 cent to 100 cents in equal one cent increments. The contestant with the amount closest to $1 wins. If the first contestant spins 80 cents, what is the probability that the second contestant will win?
Additional Information
This kinde of problem is a part of Statistics and describe about the TV game show, ‘The Price is Right' where the contestants have to give the correct price for products shown. The probability for winning for the second contestant is calculated in the solution.