Expected Value: Game of Chance

This Expected Value: Game of Chance interactive also includes:

Determine whether the payoff is worth it. Pupils calculate the expected value of a game with three different payoff levels. Each level has a different probability of winning money. The scholars find the expected payoffs for each level and decide whether to play the game if the level is unknown.

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CCSS: Adaptable
Instructional Ideas

  • Calculate expected values for the payoff multipliers that are available in the lever positions between the numbers
Classroom Considerations

  • Requires the user to sign up for a free account
  • The class should understand how to calculate an expected value
Pros

  • Provides hints on how to calculate the expected values for the challenges
  • Allows the learner to display the correct answer if needed
Cons

  • None