Monday, 18 December 2017

What are the Chances?

Applying knowledge creatively is a great way to engage students, as it gives them the opportunity to grapple with real-world problems and have fun doing so.


Students in our Grade 12 Data Management program have been learning about the concept of expected value through real-life examples taken from games, insurance and sports. To demonstrate understanding of this concept, students had to create a unique probability game that profited within a certain range, as determined by the cost per game to the player. 



The culminating activity for this study was a “casino day” where the students played one another’s games using “data dollars.” While playing the games they collected experimental data to compare their theoretical probability distributions and expected value. Students then used this date to write a report that analysed the profitability of their game.



Besides honing their understanding of probability, students also had the opportunity to learn from their peers. They might also be better prepared for that next game of Blackjack! 

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