HSS-MD.B.5

(+) Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values.

 
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Performance Task: Analyzing the Powerball Lottery

12th Grade Math » Unit: Statistics: Using Probability to Make Decisions
12th Grade Math » Unit: Statistics: Using Probability to Make Decisions
James Dunseith
Worcester, MA
Environment: Urban
 
Big Idea:

I don't mean to say that playing the lottery is a good idea, just that it helps to know why that's the case.

 
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lottery machine

Find the expected payoff for a game of chance.For example, find the expected winnings from a state lottery ticket or a game at a fast-food restaurant.

Evaluate and compare strategies on the basis of expected values. For example, compare a high-deductible versus a low-deductible automobile insurance policy using various, but reasonable, chances of having a minor or a major accident.

Common Core Math
 
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