Using Probabilities to Make Fair Decisions

Slides:



Advertisements
Similar presentations
Theoretical Probability
Advertisements

A measurement of fairness game 1: A box contains 1red marble and 3 black marbles. Blindfolded, you select one marble. If you select the red marble, you.
Clear your desk for your quiz. Unit 2 Day 8 Expected Value Average expectation per game if the game is played many times Can be used to evaluate and.
Dealing with Data Probability. What’s the probability? What’s the probability of the spinner stopping in the yellow section. (All the sections are equal.)
Take out a coin! You win 4 dollars for heads, and lose 2 dollars for tails.
Games of probability What are my chances?. Roll a single die (6 faces). –What is the probability of each number showing on top? Activity 1: Simple probability:
What is Probability? The study of probability helps us figure out the likelihood of something happening. In math we call this “something happening” or.
Chapter 7 Expectation 7.1 Mathematical expectation.
My game… You pay £1 to play I roll a dice If it lands on 1 or 2 you win £1.50 If it lands on 3, 4, 5, 6 you lose Will this game make me a profit if 10.
1.3 Simulations and Experimental Probability (Textbook Section 4.1)
Chapter 9 Review. 1. Give the probability of each outcome.
Expected Value.
Warm Up If Babe Ruth has a 57% chance of hitting a home run every time he is at bat, run a simulation to find out his chances of hitting a homerun at least.
Fair and Unfair Games Laura Smiley. What makes a game… FairUnfair.
1. What’s the probability that the spinner will land on blue?
WOULD YOU PLAY THIS GAME? Roll a dice, and win $1000 dollars if you roll a 6.
Holt CA Course Independent and Dependent Events Warm Up #24 Write each answer as a ratio, as a decimal, and as a percent. A 1–6 number cube is rolled.
Copyright © 2009 Pearson Education, Inc. Chapter 12 Section 3 - Slide 1 P-3 Probability Odds.
Probability Quiz. Question 1 If I throw a fair dice 30 times, how many FIVES would I expect to get?
PROBABILITY, EVENTS AND OUTCOMES Yo yo yo welcome back!!!!!!!! Happy NEW YEAR! SWBAT: Define probability, event & outcomes Determine the probability of.
Expected Value and Fair Game S-MD.6 (+) Use probabilities to make fair decisions (e.g., drawing by lots, using a random number generator). S-MD.7 (+) Analyze.
16.6 Expected Value.
11-3 Theoretical Probability Course 1 Warm Up Warm Up Lesson Presentation Lesson Presentation Problem of the Day Problem of the Day.
1 Expected Value CSCE 115 Revised Nov. 29, Probability u Probability is determination of the chances of picking a particular sample from a known.
Probability.
Expected values of games
Probability.
Probability Jeopardy.
Probability.
Probability.
Copyright © Cengage Learning. All rights reserved.
BASIC PROBABILITY Probability – the chance of something (an event) happening # of successful outcomes # of possible outcomes All probability answers must.
Game Theory “How to Win the Game!”.
Expected Value.
Lesson Probability Students will be able to understand the concept of probability and the relationship between probability and likelihood. Students.
Tuesday, August 25, 2015 DO NOW On the opener sheet that you picked up, respond to the following questions in the “Tuesday” box Imagine that you have.
Probability.
Probability.
Probability Probability is a measure of how likely an event is to occur. For example – Today there is a 60% chance of rain. The odds of winning the lottery.
Multiply the probability of the events together.
Welcome stand quietly * take out your math folder *Warm-Up Out
Expected Value.
PROBABILITY.
Probability.
Key Skill – Probability
Warm Up Problem of the Day Lesson Presentation Lesson Quizzes.
Probability.
Probability and Chance
Investigation 3 Making decisions with Probability
Using Probabilities to Make Fair Decisions
Probability.
Investigation 2 Experimental and Theoretical Probability
Probability of a single event
STAND QUIETLY.
Expected Value.
Gain Expected Gain means who much – on average – you would expect to win if you played a game. Example: Mark plays a game (for free). He throws a coin.
Probability.
Fun… Tree Diagrams… Probability.
Probability.
Making Decisions with Probability
Probability.
Statistics and Probability-Part 5
Types of Events Groups of 3 Pick a Card
Theoretical Probability – Math 6
Probability.
Probability – Experimental & Expectation – Activity A
PROBABILITY.
Homework Due Tomorrow mrsfhill.weebly.com.
Warm Up What is the type of sampling for 1-3? 1. “The names of 50 contestants are written on 50 cards. The cards are placed in a hat and 10 names are drawn.”
Presentation transcript:

Using Probabilities to Make Fair Decisions Section 4.9

Objectives Compare different probabilities. Deciding if probabilities are fair.

Example; Make Fair Decisions Two teams decided to play cricket. They want to decide who bats first. Robert and David are the team captains. So they have two suggestions to decide who bats first. Decide whether the suggestions are fair ways to make the decision. Robert says, “We can flip a coin, heads my bats first. If it is tails David’s team bats first.” David says, “We can roll a single die. If it lands on either 1,2, or 3, my team bats first. If the roll is a 4, 5, or 6 then Robert’s team bats first. Which is the better option? Explain.

Example–Solution Robert’s Suggestion… P(Head) = 1/2 = Robert’s Team P(Tail) = 1/2 = David’s Team Robert’s Team = David’s Team Robert’s suggestion is fair because they have the same probability of getting to bat first.

Example–Solution David’s Suggestion… P(1, 2, or 3) = 1/2 = David’s Team P(4, 5, or 6) = 1/2 = Robert’s Team David’s Team = Robert’s Team David’s suggestion is fair because they have the same probability of getting to bat first.

Probability of the Number Example; Make Fair Decisions Some of Allan’s friends are playing with dice. They decide to roll a die. If it lands on a 1 then he wins $5. If it lands on a 6 then he wins $10. If it lands on any other number he loses $3. Is the game fair? Explain. Solution: Number Rolled Number 1 Number 6 Number (2, 3, 4, 5) Probability of the Number Amount of Money ($) Pay Out 1/6 1/6 2/3 $5 $10 -$3 5/6 10/6 -12/6

Example–Solution Total Payout = 5/6 + 10/6 – 12/6 Total Payout = 1/2 1/2 ≠ 0 Since the total average payout is not zero. The game is not fair because the probabilities of winning are not the same for each pay out. Alan is more likely to lose money than win money.

P(1) = 2/8 = 1/4 P(2) = 2/8 = 1/4 P(3) = 2/8 = 1/4 P(4) = 2/8 = 1/4 Example; Make Fair Decisions Caleb made a spinner. Is this spinner fair? Explain. Solution: 1 4 2 3 P(1) = 2/8 = 1/4 P(2) = 2/8 = 1/4 P(3) = 2/8 = 1/4 P(4) = 2/8 = 1/4 Since the spinner has 8 equal sections and each number is represented an equal number of times this spinner is fair.

Example; Make Fair Decisions Charlie and Molly want to play basketball. To decide who will take the ball first they make two spinners. Spinner 1 Spinner 2 If the spinner lands on Blue Charlie gets the ball. If the spinner lands on Yellow Molly gets the ball first.   Which spinner is fair if either? Explain. B Y Blue Yellow

Example–Solution Spinner 1… P(Blue) = 1/2 = Charlie P(Yellow) = 1/2 = Molly Charlie = Molly Spinner 1 is fair because both players have and equal probability of getting the ball first.

Example–Solution Spinner 2… P(Blue) = 3/8 = Charlie P(Yellow) = 5/8 = Molly Charlie ≠ Molly Spinner 2 is not fair because both players do not have and equal probability of getting the ball first.

How to Make Fair Decisions 1) Find probabilities of each situation 2) Are the probabilities the same 3) ‘Same’ = ‘Fair’ or ‘Not Same’ = ‘Not Fair’ 4) If we are looking at expected outcomes, we want the balance to be zero for fairness.

4.9 Using Probabilities to Make Fair Decisions Summarize Notes Read section 4.9 Homework Worksheet