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    GallaFarms Fav 2G

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    josezizumbo86
    The document presents a math task involving probability and expected value. A lottery game costs $10 to play, with a 60% chance to win $15 and a 40% chance to lose $10. Students are asked to (a) calculate the expected value and (b) write a message to a friend advising whether he should play the game many times based on the expected value. The expected value is calculated as -$1, meaning an average loss of $1 per game. The message should advise the friend not to play many times, since the expected value shows no long-term gain will be made by playing repeatedly.

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    GallaFarms Fav 2G

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    josezizumbo86
    15 views3 pages
    The document presents a math task involving probability and expected value. A lottery game costs $10 to play, with a 60% chance to win $15 and a 40% chance to lose $10. Students are asked to (a) calculate the expected value and (b) write a message to a friend advising whether he should play the game many times based on the expected value. The expected value is calculated as -$1, meaning an average loss of $1 per game. The message should advise the friend not to play many times, since the expected value shows no long-term gain will be made by playing repeatedly.

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    The document presents a math task involving probability and expected value. A lottery game costs $10 to play, with a 60% chance to win $15 and a 40% chance to lose $10. Students are asked to (a) calculate the expected value and (b) write a message to a friend advising whether he should play the game many times based on the expected value. The expected value is calculated as -$1, meaning an average loss of $1 per game. The message should advise the friend not to play many times, since the expected value shows no long-term gain will be made by playing repeatedly.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    15 views3 pages

    GallaFarms Fav 2G

    Uploaded by

    josezizumbo86
    The document presents a math task involving probability and expected value. A lottery game costs $10 to play, with a 60% chance to win $15 and a 40% chance to lose $10. Students are asked to (a) calculate the expected value and (b) write a message to a friend advising whether he should play the game many times based on the expected value. The expected value is calculated as -$1, meaning an average loss of $1 per game. The message should advise the friend not to play many times, since the expected value shows no long-term gain will be made by playing repeatedly.

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    © All Rights Reserved
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    Illustrative

    Mathematics

    S-MD.2,5 Sounds Really Good!


    (sort of...)

    Alignments to Content Standards: S-MD.A.2 S-MD.B.5

    Task

    A friend of yours, Phil, writes to you asking about a new scratch-off lottery game. It
    costs $10 to play this game. There are two outcomes for the game (win, lose) and the
    probability that a player wins a game is 60%. A win results in $15, for a net win of $5.

    The probability distribution for X = the amount of money a player wins (or loses) in a
    single game is as follows:

    X Probability of X

    +$5 .60

    -$10 .40

    a. Compute the expected value of X.

    b. Your friend wants to know if he should play this game many, many times to make
    some extra money because the 60% chance of winning $5 sounds really good. Based
    on your calculation in part (a), complete the following message to your friend Phil that
    clearly recommends whether or not he should play this game many, many times
    and explains how the value you computed in part (a) led you to that conclusion.

    Phil:
    Regarding your idea that you should play this new lottery game many, many times to
    1
    Illustrative
    Mathematics

    make some extra money, I think…

    IM Commentary

    The purpose of this task is to have students compute and interpret an expected value,
    and then use the information provided by the expected value to make a decision. The
    task is designed to encourage students to communicate their findings in a non-
    technical form in context, ideally convincing Phil not to go through with his strategy of
    playing the game many, many times.

    After students have had a chance to write a response in part (b), you might want to
    have students engage in a small group or whole class discussion where responses are
    shared and critiqued. Then students can be given an opportunity to revise their
    repsonses in part (b) to stengthen them based on the discussion.

    Note: the outcomes above occurs when a ticket costs $10 and a winning ticket says
    "You win $15." As an extension of the task, students may want to consider the potential
    popularity of a $10 scratch-off lottery game that is advertised as "Over half the tickets
    are $15 winners!"

    Edit this solution


    Solution

    a. E(X) = 5 ⋅ .60 + (−10) ⋅ .40 = 3 − 4 = −1. This means there is an average loss of
    $1 per game in the long run.

    b. The message should tell Phil not to go forward with his plan of playing the game
    many, many times as the plan will not make money for him in the long run as he had
    hoped. The message should communicate in non-technical terms that a player will lose
    a dollar per game on average in the long run, and thus there is no long term gain to be
    made from playing the game many, many times.

    S-MD.2,5 Sounds Really Good! (sort of...)


    Typeset May 4, 2016 at 20:52:32. Licensed by Illustrative Mathematics under a
    Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License .
    2
    Illustrative
    Mathematics

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