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You will be faced with many situations involving uncertainty throughout your life, and many of those situations will involve money. Whether you are choosing to buy an insurance policy, a warranty on a printer, or a chance to win a stuffed teddy bear in a spinner game, it is important that you understand the mathematics behind these costs.
During this unit, you will design two spinner games.
First you’ll learn about spinner games and choose the prizes. Then you’ll use expected values to design your games to make a profit and simulate playing those games to see if they make the profit amount you expected.
Schedule of Completion
SUGGESTED TIME TO COMPLETE AND WHAT TO TURN IN
Project Research: 2 days. No submittals.
Project Writing: 2 days. Submit Lesson Checkpoint: Expected Value. Submit your completed project to your teacher.
Project Reflection: 1 day. Participate in a discussion with fellow students, if directed by your teacher.
Project Instructions
Before beginning, review the sample project so that you understand what you’ll be creating.
PROJECT FILES
You will use the following documents and tools for this project:
Project Overview: PRM_A_06_project_overview.doc
Sample Project: PRM_A_06_sample_project.ppt
Project Template: PRM_A_06_project_template.ppt
Spreadsheet Template: PRM_A_06_spreadsheet_template.xls
Spinner Tool: Access the Spinner Tool though Student Resources: Links.
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