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Let be a standard normal random variable. Use the calculator provided to determine the value of such that
.Carry your intermediate computations to at least four decimal places. Round your answer to at least two decimal places.
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Louisiana State University Personal Finance Interest Rate Questions
1. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the u ...
Louisiana State University Personal Finance Interest Rate Questions
1. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year.P =$8000, r =2.0%, t =15months2. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year.P=$15,500, r=5%, t=30 days3. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P = $2000, r = 4%, t = 3 years4. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P = $31,000, r = 5.5%, t = 4 years5. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P=$3000, r=5.5%, t=3 months6. The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $9000.00, A = $9810.00, t = 1 year7. The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $9000.00, A = $9810.00, t = 3 years8. Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.A = $2500, r = 18%, t = 5 years9. Determine the present value P you must invest to have the future value A at simple interest rate r after time t.A = $14,000, r = 5.0%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 5.0% is ?10. Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.A = $4000.00, r = 10.0%, t = 9 months11. In order to start a small business, a student takes out a simple interest loan for $7000.00 for 9 months at a rate of 7.75%.a. How much interest must the student pay?b. Find the future value of the loan.12. Suppose that you borrow $4000.00 from a friend and promise to pay back $8000.00 in 5 years. What simple interest rate will you pay?
Case Study: MBA Schools in Asia-Pacific ***No Plagiarism***
Purpose of Assignment The purpose of this assignment is to develop students' analytical capabilities to evaluate, analyze, ...
Case Study: MBA Schools in Asia-Pacific ***No Plagiarism***
Purpose of Assignment The purpose of this assignment is to develop students' analytical capabilities to evaluate, analyze, and apply descriptive statistics techniques to real-world datasets. Assignment Steps Resources: Microsoft Excel®, Case Study: MBA Schools in Asia-Pacific Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set. Prepare a 1,050-word managerial report for your boss.Use the following questions for guidelines and directions on what to include in the report:What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables).Using Excel®, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe.What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools?What are the mean, median, and modal ages? What does this mean to prospective applicants?What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages.What percentage of schools require the GMAT test?What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?What are the mean tuition for foreign students and for local students? Does there appear to be a significant difference? What is the difference between the two means?How many schools require work experience and how many of them don't? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience?How many schools require English tests and how many don't? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests?Comment on the skewness for the data on starting salaries:Plot a histogram and determine the skewness.Find the skewness coefficient.Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness.Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.Format your assignment consistent with APA format.
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Explore three different Internet sites for providers of home mortgages or consumer credit.Create a 350-word mind map in wh ...
QRB501 Income and Mortgage Mind Map
Explore three different Internet sites for providers of home mortgages or consumer credit.Create a 350-word mind map in which you explain the differences in the mortgages or credit terms and which would be best for you.Include the following:What are the terms of the mortgage or credit agreement? What are the differences in the different choices for this type of credit agreement? Analyze in 175 to 350 words the choice that is best for you and why.Click on the Assignment Files tab to submit your Mind Map.
Mathematics for College Readiness Belchertown High School Find the perimeter of the polygon ?ABCDEFG? shown below. Round to the nearest tenth, if necessary.
Find the perimeter of the polygon ABCDEFG shown below. Round to the nearest tenth, if necessary.A. 59.7B. 26C. 30D. 27.7
Mathematics for College Readiness Belchertown High School Find the perimeter of the polygon ?ABCDEFG? shown below. Round to the nearest tenth, if necessary.
Find the perimeter of the polygon ABCDEFG shown below. Round to the nearest tenth, if necessary.A. 59.7B. 26C. 30D. 27.7
Design two spinner games. Math homework help
Goals
You will be faced with many situations involving uncertainty
throughout your life, and many of those situations ...
Design two spinner games. Math homework help
Goals
You will be faced with many situations involving uncertainty
throughout your life, and many of those situations will involve money. Whether
you are choosing to buy an insurance policy, a warranty on a printer, or a
chance to win a stuffed teddy bear in a spinner game, it is important that you
understand the mathematics behind these costs.
During this unit, you will design two spinner games.
First you’ll learn about spinner games and choose the
prizes. Then you’ll use expected values to design your games to make a profit
and simulate playing those games to see if they make the profit amount you
expected.
Project Files
You will use the following documents and tools for this
project:
·
Project
Overview: PRM_A_06_project_overview.doc
·
Sample
Project: PRM_A_06_sample_project.ppt
·
Project
Template: PRM_A_06_project_template.ppt
·
Spreadsheet
Template: PRM_A_06_spreadsheet_template.xls
·
Spinner
Tool: Access the Spinner Tool though Student
Resources: Links.
Template
1. Download the project
template and rename the file as GamePresentation_YourName.
This file will become your presentation.
2. Download the spreadsheet template and rename the file as Spreadsheet_YourName. You will use this file to help
you create your presentation.
Project Research
1. Decide on the prize for your first spinner.
·
Look on the Internet to
find an item that sells for less than $5. Prize
ideas include, but are not limited to, small stuffed animals, posters,
T-shirts, goldfish, and small puzzles. Assume that the site you find is the
site where the prizes would be purchased from. If the prizes are sold in bulk
(such as a dozen to a pack), figure out the cost per single prize. Do not use the same item that the sample
project uses.
2. Decide on the prize for your second spinner.
·
Look on the Internet to
find an item that sells for between $10 and $30.
Prize ideas include, but are not limited to, large stuffed animals, sports
caps, board games, and backpacks. Assume that the site you find is the site
where the prizes would be purchased from. Do
not use the same item that the sample project uses.
3. Open your presentation. On slide 1, type your name. On slide 2,
complete the table with prize information.
Project Writing
1. Complete Lesson Checkpoint: Expected Value, an online, ungraded
assessment. You’ll practice finding and interpreting expected value for a game
of chance—a skill essential to completing your project. Reach out to your
teacher with any questions you have after taking this assessment.
2. Design a draft of your first spinner game (the game with the
less expensive prize.)
·
Determine how many sectors
the spinner will have. Choose between 2 and 12 sectors.
·
Choose the cost to play the
game.
·
Tip: You want to make your game appealing to the public. You can
achieve this with a greater probability of winning and/or a lower cost to play.
3. Open your spreadsheet and use the first table in the Expected Values tab to find the expected value of your
game. (Tabs are located at the bottom of the page.)
·
Use the value of your prize
to determine the outcomes. Type the outcomes in cells B5 and C5.
·
Use the number of sectors
in your spinner to determine the probabilities. Type the probabilities in cells
B6 and C6.
·
The expected value will
appear below the table in cell B8. Note: There
is a formula in cell B8. Do not type over it.
4. Think about the expected value shown. Remember, the goal is to
make a profitable game that people will want to play. Modify your game until
you think you have achieved this. You can change the cost to play the game
and/or you can change the number of sectors in your spinner. If you choose to
change your prize, be sure to update the information on slide 2 in your
presentation. Update the values in cells B5, B6, C5, and C6 as needed. Save your work when you are finished.
5. Open your presentation. On slide 3, type in the information about
your first spinner game.
6. Design a draft of your second spinner game (the game with the
more expensive prize.)
·
Determine how many sectors
the spinner will have. Choose between 2 and 12 sectors.
·
Choose the cost to play the
game.
·
Tip: This game has a greater prize value than your first game. To
make the game profitable, you may need to charge more to play the game, and/or
decrease the probability of winning.
7. Open your spreadsheet and use the second table in the Expected Values tab to find the
expected value of your game.
·
Use the value of your prize
to determine the outcomes. Type the outcomes in cells B13 and C13.
·
Use the number of sectors
in your spinner to determine the probabilities. Type the probabilities in cells
B14 and C14.
·
The expected value will appear
below the table in cell B16. Note: There is a
formula in cell B16. Do not type over it.
8. Think about the expected value shown. Remember, the goal is to
make a profitable game that people will want to play. Modify your game until
you think you have achieved this. You can change the cost to play the game
and/or you can change the number of sectors in your spinner. If you choose to
change your prize, be sure to update the information on slide 2 in your
presentation. Update the values in cells B13, B14, C13, and C14 as needed. Save your work when you are finished.
9. Open your presentation. On slide 4, type in the information
about your second spinner game.
10. Complete slide 5 by predicting how much money the game owner,
will make after each spinner game is played 100, 500, and 1000 times.
11. Go to the online spinner. Set it up to model your first spinner.
·
Click Change Spinner. Click
the up and down arrows to adjust the number of sectors to equal the number of
sectors in your first spinner. When finished, click Apply.
12. Simulate playing the game 100, 500, and 1000 times.
·
Predict where the arrow
will land. Consider this sector the winning sector for all plays.
·
With the Number of Spins
set to 100, click Go. Find the number of times, f, the arrow landed in your chosen sector. Record this as the
number of wins in the table below. Calculate the number of losses by subtracting
the number of wins from 100.
·
Change the number of spins
to 400 and click Go. There are now a total of 500 spins. Find the number of
times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate the
number of losses by subtracting the number of wins from 500.
·
Change the number of spins
to 500 and click Go. There are now a total of 1000 spins. Find the number of
times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate
the number of losses by subtracting the number of wins from 1000.
Number of plays
Win
Lose
100
500
1000
13. Open your spreadsheet and use the first row of tables in the Simulations tab to calculate the game owner’s profits
from the simulation. Notice that cells for the outcomes are already populated.
·
Use the values from your
table in Step 12 for the frequencies of the outcomes. Type the frequencies in
cells B6 and C6, F6 and G6, and J6 and K6.
·
The profits for the
simulations will appear below the tables in cells B8, F8, and J8. Note: There are formulas in cells B8, F8, and J8. Do
not type over them.
14. Open your presentation. On slide 6, type in the information
about your simulations and compare them to your predictions.
15. Go back to the online spinner. Set it up to model your second
spinner.
·
Click Change Spinner. Click the up and down arrows to adjust
the number of sectors to equal the number of sectors in your first spinner.
When finished, click Apply.
16. Simulate playing the game 100, 500, and 1000 times.
·
Predict where the arrow
will land. Consider this sector the winning sector for all plays.
·
With the Number of Spins
set to 100, click Go. Find the number of times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate
the number of losses by subtracting the number of wins from 100.
·
Change the number of spins
to 400 and click Go. There are now a total of 500 spins. Find the number of
times, f, the arrow landed in your chosen sector. Record this as the number of
wins in the table below. Calculate the number of losses by subtracting the
number of wins from 500.
·
Change the number of spins
to 500 and click Go. There are now a total of 1000 spins. Find the number of
times, f, the arrow landed in your chosen sector. Record this as the number of
wins in the table below. Calculate the number of losses by subtracting the
number of wins from 1000.
Number of plays
Win
Lose
100
500
1000
17. Open your spreadsheet and use the second row of tables in the Simulations tab to calculate the game owner’s profits
from the simulation. Notice that cells for the outcomes are already populated.
·
Use the values from your
table in Step 16 for the frequencies of the outcomes. Type the frequencies in
cells B14 and C14, F14 and G14, and J14 and K14.
·
The profits for the
simulations will appear below the tables in cells B16, F16, and J16. Note: There are formulas in cells B16, F16, and J16.
Do not type over them.
18. Open your presentation. On slide 7, type in the information
about your simulations and compare them to your predictions.
Project Reflection
1. Join the online session set up for you and your classmates.
2. Write a response to any of the following.
·
Would you be more likely to
play a game with a greater chance of winning a small prize amount or a game
with a lesser chance of winning a large prize amount? Explain.
·
Knowing that games of
chance are designed for the customers to lose, on average, would you save your
money and never play these types of games? Why or why not?
·
What do you think about
consumers buying short-term warranties for brand-new items? Would you be likely
to buy one? Explain.
3. Comment on at least one other student’s post.
Alternate Reflection Assignment
If your teacher excuses you from the online discussion, then
add a slide (slide 8) to the end of your presentation. On the slide, explain
whether, if given the opportunity in the real world, you would play either of
the two games you created, or if you would save your money and walk away. Also,
if you had to choose between the two games, which one would you play and why?
Submission
Confirm that your presentation contains all your work:
·
Prize information for each
spinner game
·
Facts, probability distribution
tables, expected values, and expected value explanations for each spinner game
·
Predicted profits after
100, 500, and 1000 plays of each game
·
Simulation results
(frequency distribution tables and profits) for each game with accompanying
discussion
·
Alternate reflection
assignment slide (ONLY if you did not participate in the online discussion)
Submit your project to your teacher.I ADDED TWO REAL EXAMPLES YOU CAN JUST PARAPHRASE THEMprm_a_06_project_template.pptprm_a_06_sample_project.pptprm_a_06_spreadhseet_template.xlsproject_3_n.pptxproject3.pptx
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Louisiana State University Personal Finance Interest Rate Questions
1. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the u ...
Louisiana State University Personal Finance Interest Rate Questions
1. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume there are 360 days in a year.P =$8000, r =2.0%, t =15months2. The principal P is borrowed at a simple interest rate r for a period of time t. Find the simple interest owed for the use of the money. Assume 360 days in a year.P=$15,500, r=5%, t=30 days3. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P = $2000, r = 4%, t = 3 years4. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P = $31,000, r = 5.5%, t = 4 years5. The principal P is borrowed at a simple interest rate r for a period of time t. Find the loan's future value A, or the total amount due at time t.P=$3000, r=5.5%, t=3 months6. The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $9000.00, A = $9810.00, t = 1 year7. The principal P is borrowed and the loan's future value A at time t is given. Determine the loan's simple interest rate r.P = $9000.00, A = $9810.00, t = 3 years8. Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.A = $2500, r = 18%, t = 5 years9. Determine the present value P you must invest to have the future value A at simple interest rate r after time t.A = $14,000, r = 5.0%, t = 5 years The present value that must be invested to get $14,000 after 5 years at an interest rate of 5.0% is ?10. Determine the present value P that must be invested to have the future value A at simple interest rate r after time t.A = $4000.00, r = 10.0%, t = 9 months11. In order to start a small business, a student takes out a simple interest loan for $7000.00 for 9 months at a rate of 7.75%.a. How much interest must the student pay?b. Find the future value of the loan.12. Suppose that you borrow $4000.00 from a friend and promise to pay back $8000.00 in 5 years. What simple interest rate will you pay?
Case Study: MBA Schools in Asia-Pacific ***No Plagiarism***
Purpose of Assignment The purpose of this assignment is to develop students' analytical capabilities to evaluate, analyze, ...
Case Study: MBA Schools in Asia-Pacific ***No Plagiarism***
Purpose of Assignment The purpose of this assignment is to develop students' analytical capabilities to evaluate, analyze, and apply descriptive statistics techniques to real-world datasets. Assignment Steps Resources: Microsoft Excel®, Case Study: MBA Schools in Asia-Pacific Review the Case Study: MBA Schools in Asia-Pacific and the Case Study: MBA Schools in Asia-Pacific data set. Prepare a 1,050-word managerial report for your boss.Use the following questions for guidelines and directions on what to include in the report:What is the type of data (Quantitative or Qualitative) for each of the columns (variables) in the dataset? If quantitative, is the data discrete or continuous? Neatly summarize your response in a table for all the columns (variables).Using Excel®, find the mean, median, standard deviation, minimum, maximum, and the three quartiles for each of the quantitative variables identified in part 1 above. Neatly summarize in a table on this document. Comment on what you observe.What are the minimum and maximum full-time enrollments? Which schools have the minimum and maximum full-time enrollments?What is the average number of students per faculty member? Is this low or high? What does this mean to prospective applicants who are interested in pursuing an MBA in one of the leading international business schools?What are the mean, median, and modal ages? What does this mean to prospective applicants?What is the mean percentage of foreign students? How many and which schools have 1% and 0% foreign students? Which schools have highest percentage of foreign students? Please state these percentages.What percentage of schools require the GMAT test?What percentage of schools require English tests such as Test of English as a Foreign Language (TOEFL)?What percentage of schools require work experience? From this percentage, does this appear to be a significant factor in gaining admissions?What are the mean and median starting salaries? Which schools have the minimum and maximum starting salaries? How much are these minimum and maximum salaries?What are the mean tuition for foreign students and for local students? Does there appear to be a significant difference? What is the difference between the two means?How many schools require work experience and how many of them don't? What is the mean starting salary for schools requiring work experience? What is the mean starting salary for schools requiring no work experience?How many schools require English tests and how many don't? What is the mean starting salary for schools requiring English tests? What is the mean starting salary for schools requiring no English tests?Comment on the skewness for the data on starting salaries:Plot a histogram and determine the skewness.Find the skewness coefficient.Find the mean, median, and mode for starting salaries and compare the three measures to determine skewness.Finally, use Empirical Rule on the starting salaries and determine whether the salaries follow the Empirical Rule.Format your assignment consistent with APA format.
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Explore three different Internet sites for providers of home mortgages or consumer credit.Create a 350-word mind map in wh ...
QRB501 Income and Mortgage Mind Map
Explore three different Internet sites for providers of home mortgages or consumer credit.Create a 350-word mind map in which you explain the differences in the mortgages or credit terms and which would be best for you.Include the following:What are the terms of the mortgage or credit agreement? What are the differences in the different choices for this type of credit agreement? Analyze in 175 to 350 words the choice that is best for you and why.Click on the Assignment Files tab to submit your Mind Map.
Mathematics for College Readiness Belchertown High School Find the perimeter of the polygon ?ABCDEFG? shown below. Round to the nearest tenth, if necessary.
Find the perimeter of the polygon ABCDEFG shown below. Round to the nearest tenth, if necessary.A. 59.7B. 26C. 30D. 27.7
Mathematics for College Readiness Belchertown High School Find the perimeter of the polygon ?ABCDEFG? shown below. Round to the nearest tenth, if necessary.
Find the perimeter of the polygon ABCDEFG shown below. Round to the nearest tenth, if necessary.A. 59.7B. 26C. 30D. 27.7
Design two spinner games. Math homework help
Goals
You will be faced with many situations involving uncertainty
throughout your life, and many of those situations ...
Design two spinner games. Math homework help
Goals
You will be faced with many situations involving uncertainty
throughout your life, and many of those situations will involve money. Whether
you are choosing to buy an insurance policy, a warranty on a printer, or a
chance to win a stuffed teddy bear in a spinner game, it is important that you
understand the mathematics behind these costs.
During this unit, you will design two spinner games.
First you’ll learn about spinner games and choose the
prizes. Then you’ll use expected values to design your games to make a profit
and simulate playing those games to see if they make the profit amount you
expected.
Project Files
You will use the following documents and tools for this
project:
·
Project
Overview: PRM_A_06_project_overview.doc
·
Sample
Project: PRM_A_06_sample_project.ppt
·
Project
Template: PRM_A_06_project_template.ppt
·
Spreadsheet
Template: PRM_A_06_spreadsheet_template.xls
·
Spinner
Tool: Access the Spinner Tool though Student
Resources: Links.
Template
1. Download the project
template and rename the file as GamePresentation_YourName.
This file will become your presentation.
2. Download the spreadsheet template and rename the file as Spreadsheet_YourName. You will use this file to help
you create your presentation.
Project Research
1. Decide on the prize for your first spinner.
·
Look on the Internet to
find an item that sells for less than $5. Prize
ideas include, but are not limited to, small stuffed animals, posters,
T-shirts, goldfish, and small puzzles. Assume that the site you find is the
site where the prizes would be purchased from. If the prizes are sold in bulk
(such as a dozen to a pack), figure out the cost per single prize. Do not use the same item that the sample
project uses.
2. Decide on the prize for your second spinner.
·
Look on the Internet to
find an item that sells for between $10 and $30.
Prize ideas include, but are not limited to, large stuffed animals, sports
caps, board games, and backpacks. Assume that the site you find is the site
where the prizes would be purchased from. Do
not use the same item that the sample project uses.
3. Open your presentation. On slide 1, type your name. On slide 2,
complete the table with prize information.
Project Writing
1. Complete Lesson Checkpoint: Expected Value, an online, ungraded
assessment. You’ll practice finding and interpreting expected value for a game
of chance—a skill essential to completing your project. Reach out to your
teacher with any questions you have after taking this assessment.
2. Design a draft of your first spinner game (the game with the
less expensive prize.)
·
Determine how many sectors
the spinner will have. Choose between 2 and 12 sectors.
·
Choose the cost to play the
game.
·
Tip: You want to make your game appealing to the public. You can
achieve this with a greater probability of winning and/or a lower cost to play.
3. Open your spreadsheet and use the first table in the Expected Values tab to find the expected value of your
game. (Tabs are located at the bottom of the page.)
·
Use the value of your prize
to determine the outcomes. Type the outcomes in cells B5 and C5.
·
Use the number of sectors
in your spinner to determine the probabilities. Type the probabilities in cells
B6 and C6.
·
The expected value will
appear below the table in cell B8. Note: There
is a formula in cell B8. Do not type over it.
4. Think about the expected value shown. Remember, the goal is to
make a profitable game that people will want to play. Modify your game until
you think you have achieved this. You can change the cost to play the game
and/or you can change the number of sectors in your spinner. If you choose to
change your prize, be sure to update the information on slide 2 in your
presentation. Update the values in cells B5, B6, C5, and C6 as needed. Save your work when you are finished.
5. Open your presentation. On slide 3, type in the information about
your first spinner game.
6. Design a draft of your second spinner game (the game with the
more expensive prize.)
·
Determine how many sectors
the spinner will have. Choose between 2 and 12 sectors.
·
Choose the cost to play the
game.
·
Tip: This game has a greater prize value than your first game. To
make the game profitable, you may need to charge more to play the game, and/or
decrease the probability of winning.
7. Open your spreadsheet and use the second table in the Expected Values tab to find the
expected value of your game.
·
Use the value of your prize
to determine the outcomes. Type the outcomes in cells B13 and C13.
·
Use the number of sectors
in your spinner to determine the probabilities. Type the probabilities in cells
B14 and C14.
·
The expected value will appear
below the table in cell B16. Note: There is a
formula in cell B16. Do not type over it.
8. Think about the expected value shown. Remember, the goal is to
make a profitable game that people will want to play. Modify your game until
you think you have achieved this. You can change the cost to play the game
and/or you can change the number of sectors in your spinner. If you choose to
change your prize, be sure to update the information on slide 2 in your
presentation. Update the values in cells B13, B14, C13, and C14 as needed. Save your work when you are finished.
9. Open your presentation. On slide 4, type in the information
about your second spinner game.
10. Complete slide 5 by predicting how much money the game owner,
will make after each spinner game is played 100, 500, and 1000 times.
11. Go to the online spinner. Set it up to model your first spinner.
·
Click Change Spinner. Click
the up and down arrows to adjust the number of sectors to equal the number of
sectors in your first spinner. When finished, click Apply.
12. Simulate playing the game 100, 500, and 1000 times.
·
Predict where the arrow
will land. Consider this sector the winning sector for all plays.
·
With the Number of Spins
set to 100, click Go. Find the number of times, f, the arrow landed in your chosen sector. Record this as the
number of wins in the table below. Calculate the number of losses by subtracting
the number of wins from 100.
·
Change the number of spins
to 400 and click Go. There are now a total of 500 spins. Find the number of
times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate the
number of losses by subtracting the number of wins from 500.
·
Change the number of spins
to 500 and click Go. There are now a total of 1000 spins. Find the number of
times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate
the number of losses by subtracting the number of wins from 1000.
Number of plays
Win
Lose
100
500
1000
13. Open your spreadsheet and use the first row of tables in the Simulations tab to calculate the game owner’s profits
from the simulation. Notice that cells for the outcomes are already populated.
·
Use the values from your
table in Step 12 for the frequencies of the outcomes. Type the frequencies in
cells B6 and C6, F6 and G6, and J6 and K6.
·
The profits for the
simulations will appear below the tables in cells B8, F8, and J8. Note: There are formulas in cells B8, F8, and J8. Do
not type over them.
14. Open your presentation. On slide 6, type in the information
about your simulations and compare them to your predictions.
15. Go back to the online spinner. Set it up to model your second
spinner.
·
Click Change Spinner. Click the up and down arrows to adjust
the number of sectors to equal the number of sectors in your first spinner.
When finished, click Apply.
16. Simulate playing the game 100, 500, and 1000 times.
·
Predict where the arrow
will land. Consider this sector the winning sector for all plays.
·
With the Number of Spins
set to 100, click Go. Find the number of times, f, the arrow landed in your
chosen sector. Record this as the number of wins in the table below. Calculate
the number of losses by subtracting the number of wins from 100.
·
Change the number of spins
to 400 and click Go. There are now a total of 500 spins. Find the number of
times, f, the arrow landed in your chosen sector. Record this as the number of
wins in the table below. Calculate the number of losses by subtracting the
number of wins from 500.
·
Change the number of spins
to 500 and click Go. There are now a total of 1000 spins. Find the number of
times, f, the arrow landed in your chosen sector. Record this as the number of
wins in the table below. Calculate the number of losses by subtracting the
number of wins from 1000.
Number of plays
Win
Lose
100
500
1000
17. Open your spreadsheet and use the second row of tables in the Simulations tab to calculate the game owner’s profits
from the simulation. Notice that cells for the outcomes are already populated.
·
Use the values from your
table in Step 16 for the frequencies of the outcomes. Type the frequencies in
cells B14 and C14, F14 and G14, and J14 and K14.
·
The profits for the
simulations will appear below the tables in cells B16, F16, and J16. Note: There are formulas in cells B16, F16, and J16.
Do not type over them.
18. Open your presentation. On slide 7, type in the information
about your simulations and compare them to your predictions.
Project Reflection
1. Join the online session set up for you and your classmates.
2. Write a response to any of the following.
·
Would you be more likely to
play a game with a greater chance of winning a small prize amount or a game
with a lesser chance of winning a large prize amount? Explain.
·
Knowing that games of
chance are designed for the customers to lose, on average, would you save your
money and never play these types of games? Why or why not?
·
What do you think about
consumers buying short-term warranties for brand-new items? Would you be likely
to buy one? Explain.
3. Comment on at least one other student’s post.
Alternate Reflection Assignment
If your teacher excuses you from the online discussion, then
add a slide (slide 8) to the end of your presentation. On the slide, explain
whether, if given the opportunity in the real world, you would play either of
the two games you created, or if you would save your money and walk away. Also,
if you had to choose between the two games, which one would you play and why?
Submission
Confirm that your presentation contains all your work:
·
Prize information for each
spinner game
·
Facts, probability distribution
tables, expected values, and expected value explanations for each spinner game
·
Predicted profits after
100, 500, and 1000 plays of each game
·
Simulation results
(frequency distribution tables and profits) for each game with accompanying
discussion
·
Alternate reflection
assignment slide (ONLY if you did not participate in the online discussion)
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