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Applying Probability Concepts

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Applying Probability Concepts By: Elijah Pulu Did you know that all 50 states in the United States have some sort of state fair? Fairs and carnivals include a variety of games of chance that aren�... �t typically “fair.” What does it mean for a game to be fair? In this task, you’ll analyze different scenarios to determine fairness. You will use probability and expected value to make these determinations. You will also use these concepts to make decisions. As you complete the assignment, keep this question in mind: How can probability be applied to decision making? Directions Complete each of the following tasks, reading the directions carefully as you go. Show all work where indicated, including inserting images of graphs. Be sure that all graphs or screenshots include appropriate information, such as titles, labeled diagrams, etc. If your word processing program has an equation editor, you can insert your equations here. Otherwise, print this activity sheet and write your answers by hand. In addition to the answers you determine, you will be graded based on the work you show, or your solution process. So, be sure to show all your work and answer each question as you complete the task. Type all your work into this document so you can submit it to your teacher for a grade. You will be given partial credit based on the work you show and the completeness and accuracy of your explanations. Your teacher will give you further directions about how to submit your work. You may be asked to upload the document, e-mail it to your teacher, or print it and hand in a hard copy. Now, let’s get started! [Show More]

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