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CASH OR COIN? Would you take the risk?. CASH OR COIN?  You need a piece of scrap paper, and a pencil or pen.

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Presentation on theme: "CASH OR COIN? Would you take the risk?. CASH OR COIN?  You need a piece of scrap paper, and a pencil or pen."— Presentation transcript:

1 CASH OR COIN? Would you take the risk?

2 CASH OR COIN?  You need a piece of scrap paper, and a pencil or pen.

3 CASH OR COIN?  You are the winner of a TV game show, and your prize is £10,000.  The game show host is ready to give you the £10,000 in cash, but offers you a gamble.

4 WHAT DO YOU CHOOSE – CASH OR COIN? CASH  Either you keep the £10,000... COIN ...or you give back the £10,000 for the chance to toss a coin.  If it is heads, you will win £100,000.  If it is tails, you will have to pay the TV company £50,000.

5 CASH OR COIN? Write your choice on the paper, fold it up and hand it in. We shall see what the class decides.

6 BEFORE YOU FIND THE CLASS DECISION CASH  What proportion of the class will opt to take the money?  Why would some take the safe option?  Is the gamble worth it? COIN  How would you deal with losing £50,000?  What hypotheses could you explore here? E.g.  More boys than girls would choose to gamble and toss the coin;  If we changed the amounts of money, we may get different results for this survey

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