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YOUNGSTOWN CITY SCHOOLS MATH: PRECALCULUS UNIT 9: PROBABLILITY, RANDOM VARIABLES AND EXPECTED VALUE (3 WEEKS) 2013-2014 Synopsis: Students will work with random variables finding probability distributions and expected value. Probability distributions will be calculated from both theoretical and empirical probabilities and will be extended to find expected value. To culminate the unit, students will examine using expected value to make decisions about insurance, participating in a game, etc. STANDARDS S.MD.1 (+) Define a random variable for a quantity of interest by assigning a numerical value to each event in a sample space; graph the corresponding probability distribution using the same graphical displays as for data distributions. S.MD.2 (+) Calculate the expected value of a random variable; interpret it as the mean of the probability distribution. S.MD.3 (+) Develop a probability distribution for a random variable defined for a sample space in which theoretical probabilities can be calculated; find the expected value. For example: find the theoretical probability distribution for the number of correct answers obtained by guessing on all five questions of a multiple-choice test where each question has four choices, and find the expected grade under various grading schemes. S.MD.4 (+) Develop a probability distribution for a random variable defined for a sample space in which probabilities are assigned empirically; find the expected value. For example: find a current data distribution on the number of TV sets per household in the United States, and calculate the expected number of sets per household. How many TV sets would you expect in 100 randomly selected households? S.MD.5a Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values. Find the expected payoff for a game of chance. For example: find the expected winnings from a state lottery ticket or a game at a fast-food restaurant. S.MD.5b Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values. Evaluate and compare strategies on the basis of expected values. For example: compare a high-deductible versus low-deductible automobile insurance policy using various, but reasonable, chances of having a minor or major accident. MATH PRACTICES 1. 2. 3. 4. 5. 6. 7. 8. Make sense of problems and persevere in solving them. Reason abstractly and quantitatively. Construct viable arguments and critique the reasoning of others. Model with mathematics. Use appropriate tools strategically. Attend to precision. Look for and make use of structure. Look for and express regularity in repeated reasoning LITERACY STANDARDS L.1 L.2 L.3 L.4 L.6 L.7 L.8 L.9 Learn to read mathematical text - - problems and explanations Communicate using correct mathematical terminology Read, discuss, and apply the mathematics found in literature, including looking at the author’s purpose Listen to and critique peer explanations of reasoning Represent and interpret data with and without technology Research mathematics topics or related problems Read appropriate text, providing explanations for mathematics concepts, reasoning or procedures Apply details of mathematical reading / use information found in texts to support reasoning, and develop a “works cited document” for research done to solve a problem. 7/02/2013 YCS PRE-CALC UNIT 9: PROBABILITY, RANDOM VARIABLES AND EXPECTED VALUE 2013-2014 1 TEACHER NOTES MOTIVATION 1. Ask students the following questions: a) Would you like to be able to calculate expected winnings from the lottery? b) Would you like to be able to calculate the odds of winning a 50-50 raffle? c) Would you like to be able to make informed decisions when purchasing car insurance, life insurance, and house insurance? d) Would you like to be able to calculate an expected grade if you guessed on all the questions of a multiple choice test? e) Would you like to be able to calculate the pay-off of a game at an internet café? Tell students that by the time they complete this unit, they will be able to calculate these values. 2. Preview expectations for the end of the Unit 3. Have students set both personal and academic goals for this Unit TEACHER NOTES TEACHING-LEARNING Note to teacher: sections in the textbook that may be of help are 13-1, 13-3, 13-6, 14-1, 14-2 Vocabulary: Sample space Theoretical probabilities Tree diagram Combinations Empirical probability Random variable Expected value Permutations Probability distribution Population Discrete random Variable Continuous random Variable Binomial theorem 1. Review probability, tree diagrams, permutations, combinations and the binomial theorem used in probability. One method of reviewing this material is to divide students into five groups and give each group a concept. They are to present a definition to the class, present a formula if there is one, show how the formula was derived, and present 2 examples. They are also to have 5 additional problems with answers on paper for use as homework problems. (S.MD.3, MP.2, MP.4, MP.5, MP.7, L.1, L.2, L.4, L.7, L.8) After completing this activity, to familiarize students with concepts of probability, the activities presented in the following link are recommended: http://illuminations.nctm.org/LessonDetail.aspx?id=L290 2. Discuss random variable which is like a function in that it assigns a number to an event. Examples of random variables are X= X = Exact amount of rain in inches tomorrow 1″ to 2″ infinite number of possibilities X = number facing up on a throw of a fair dice The first and third examples are examples of discrete random variables, there are a countable number of outcomes. The second example is an example of a continuous random variable, infinite number of outcomes. There are infinitely many numbers between 1 and 2. Once students understand the concept of a random variable, have them define a discrete random variable and a continuous random variable, present all the examples and have the class choose one of each as the best examples. A small prize such as extra points, candy, etc could be given to the winners. (S.MD.1, MP.1, MP.2, MP.3, MP.4, MP.7, L.2, L.4, L.6) https://www.khanacademy.org/math/probability/random-variables topic/random_variables_prob_dist/v/random-variables video explaining random variables 3. There are two types of probability, theoretical probability and empirical probability. Have students 7/02/2013 YCS PRE-CALC UNIT 9: PROBABILITY, RANDOM VARIABLES AND EXPECTED VALUE 2013-2014 2 TEACHER NOTES TEACHING-LEARNING research the two terms, find workable definitions and examples of each. Reference page 877 in the textbook. (S.MD.3,S.MD.4, MP.1, MP.2, MP.4, MP.7, L.1, L.2, L.7, L.8) http://www.regentsprep.org/Regents/math/ALGEBRA/APR5/theoProp.htm video explaining empirical and theoretical probability. 4. To discuss probability distributions, examine an empirical probability problem where a random sample was taken of 200 households to determine the number of children per household. The results are listed in the table below where the random variable X = : # of children 0 1 2 3 4 5 6 7 8 frequency 50 35 70 27 7 2 4 0 5 probability Have students use this information to make a probability distribution graph by finding the probability for each frequency (refer to textbook page 901). Note the sum of the probabilities is one. Reinforce making probability distribution graphs with several examples of data. (S.MD.1, MP.2, MP.4, MP.8, L.2, L.6) http://www.zweigmedia.com/ThirdEdSite/tutstats/frames8_1.html tutorial with examples to work out and answers given, random variables, discrete and continuous, empirical probability, probability distributions TEACHER GENERATED ASSESSMENT 5. Use the example in T/L #4, to calculate the expected value of the random variable X. Prior to calculating the expected value, ask students to make an educated guess as to what they might think the expected value would be. In data sets, students calculated the mean (arithmetic average) as the measure of center for the data. For probability distributions, the expected value (weighted average) is the measure of center. To calculate the expected value (preferably on a spread sheet) multiply the values by the probabilities from the table in T/L#4 and add them. 0*0.250 + 1*0.175 + 2*0.350 + 3*0.135 + 4*0.035 + 5*0.010 + 6*0.02 + 7*0 + 8*0.25 = 1.79 This means on average there are 1.79 children per household. How would the number change if the households with no children were left out? Reinforce with more examples. (S.MD.2, S.MD.4, MP.1, MP.2, MP.4, MP.5, MP.6, MP.7, L.2) the following website explain how to find expected value http://www.youtube.com/watch?v=51fIfbLMP60&list=PL47439F7E5E0B9D48&index=14 6. Students have just found an expected value for an empirical probability distribution. Now they will work with a theoretical probability model and find the expected value. Example: find the theoretical probability distribution for the number of correct answers obtained by guessing on all five questions of a multiple-choice test where each question has four choices and find the expected grade. This is a binomial probability distribution where : n = 5, p = ¼ , q = ¾ The probability distribution is: P(x=0) = 5C0 P(x=1) = 5C1 P(x=2) = 5C2 P(x=3) = 5C3 P(x=4) = 5C4 7/02/2013 YCS PRE-CALC UNIT 9: PROBABILITY, RANDOM VARIABLES AND EXPECTED VALUE 2013-2014 3 TEACHING-LEARNING TEACHER NOTES P(x=5) = 5C5 The expected value is: Another example is: In a game at a carnival players roll a 10 sided die. If they roll a number less than 8 they make $8, if they roll anything else, they lose $6. What are the expected winnings or loss? The probability distribution is The expected winnings is (S.MD.2, S.MD.3, S.MD.5a, MP1, MP.2, MP.4, MP.5, MP.6, MP.8, L.1, L.2, L.6) http://hotmath.com/hotmath_help/topics/probability-distribution.html 7. Expected values can be used to make decisions about purchasing car insurance. Discuss the following example: Your Mom has just purchased a new Toyota Tundra and has asked you for help in determining whether or not to buy car insurance. The insurance costs $1250 a year with a $150 deductible. The probability of your Mom having an accident in the next year is 8% and the average cost of repairs in an accident for the Tundra is $4500. What is the expected value of purchasing the insurance for the year? Ans: 1250 +150*0.08 = $1262 What is the expected value if she does not buy the insurance? Ans: 0.08*4500 = $360 When examining this problem at face value, it seems like it would be a good idea not to buy the insurance. Discuss with students the hidden expenses that are not considered here such as the fines and court costs associated with driving without insurance, the probability that she had an accident and the cost of repairs exceeded $4500, etc. Reinforce with additional problems using expected value to make decisions. (S.MD.2, S.MD.3, S.MD.5a&b, MP.1, MP.2, MP.4, MP.5, MP.6, MP.8, L.2, L.6) Some links that may be of help are: http://www.freemathhelp.com/forum/threads/55235-LotteryWinnings-calculate-expected-net-winnings easily shows how to calculate expected winnings http://www.ehow.com/how_11383670_calculate-expected-value-decision-trees.html expected value of an investment http://www.ehow.com/how_6513954_calculate-expected-values.html expected winnings from lottery http://www.rocklin.k12.ca.us/staff/cmcnabbnelson/cpm.geo/unit%20Probability/expectedvalue.pdf overview of expected value – lottery, casino games, and stocks http://www.thepokerbank.com/strategy/mathematics/expected-value/ use expected value on coin flip and poker to make decisions http://brainmass.com/business/finance/243108 use expected value to make decision about a company http://www.rocklin.k12.ca.us/staff/cmcnabbnelson/cpm.geo/unit%20Probability/expectedvalue.pdf decision to buy stocks http://answers.yahoo.com/question/index?qid=20071126200506AAcbtrc use expected value for insurance 7/02/2013 YCS PRE-CALC UNIT 9: PROBABILITY, RANDOM VARIABLES AND EXPECTED VALUE 2013-2014 4 TRADITIONAL ASSESSMENT TEACHER NOTES 1. Paper-pencil test with M-C questions. TEACHER CLASSROOM ASSESSMENT 1. 2 and 4 point questions 2. Other projects, worksheets, etc. TEACHER NOTES AUTHENTIC ASSESSMENT 1. Have students evaluate goals for the unit. TEACHER NOTES 2. Students are to find empirical data showing a value with its frequency, dealing with a topic of their interest. Using these data, they are to discuss two strategies where expected value may be used to determine which would be the better of the two strategies. They are to show two probability distributions, calculate the expected values, and state which the better choice is. For example: using statistics about two baseball pitchers, compute the expected values of each and then using that information to decide which pitcher would be better to use. 3. Students are to research purchasing car insurance, write a 500 word report and include a “works cited” page. They need to include laws for insurance in the state of Ohio, what deductibles are and how they affect the premiums, items that decrease the amount of the premiums, items that increase the amount of the premiums, maximum number of moving violations that will increase the cost of the premium, and an insurance quote using either their car or their parent’s car. (S.MD.5b, MP.1, MP.4, L.2, L.3, L.7, L.9) #2 AUTHENTIC ASSESSMENT RUBRIC ELEMENTS OF THE PROJECT 2 empirical data sets with a value and frequency Probability distributions Calculate expected values State decision as to which is the better choice and reasoning for the decision 0 Did not find data sets Did not calculate either probability distribution Did not calculate either expected value Did not state a decision 1 Specified one data set Calculated one probability distribution correctly Calculated one expected value correctly. Stated a decision without reasoning 2 Specified two data sets that are empirical Calculated both probability distributions correctly Calculated both expected values correctly Stated a decision with reasoning 7/02/2013 YCS PRE-CALC UNIT 9: PROBABILITY, RANDOM VARIABLES AND EXPECTED VALUE 2013-2014 5