- 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.
- Evaluate and compare strategies on the basis of expected values. For example, compare a high-deductible versus a low-deductible automobile insurance policy using various, but reasonable, chances of having a minor or a major accident.
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STEM Lessons - Model Eliciting Activity
Have you ever had a cold or some other ailment that was just a nuisance to you? You tried this medication and that medication in order to treat your self-diagnosis. However, when you have exhausted all your avenues, you find yourself at the Physician's office: paying the co-pay, getting a prescription, paying more to fill the prescription with hopes of not experiencing any of the side effects associated with the medicine, and if that particular medicine doesn't work, you are back at the doctor's office and switched to another.
Well, Phalangelpodscribitis is a recently diagnosed ailment that will put a person's feet in motion. It isn't contagious but the treatment can be intense. In this lesson students will be presented with seven (7) medications that will help cure an individual of Phalangelpodscribitis. Students will be given the effectiveness of each medication, the cost to patients with and without insurance, and the possible side effects of each. Each team will be tasked with ranking these medications for a client in order to help him decide the pros and cons of the medications that should be used in treating Phalangelpodscribitis (PPS).
Each team will be responsible for recording the procedure they used to rank the medications and to calculate the expected cost for the client when two medications must be administered since the first will prove ineffective for treatment alone. The team's suggestion brings results and the patient is cured!!
Time has passed and Phalangelpodscribitis, currently known as PPS, has returned. Oh no! What will your team suggest when the doctor begins to discuss the patient's mortality rate as it is associated with the medication?
Model Eliciting Activities, MEAs, are open-ended, interdisciplinary problem-solving activities that are meant to reveal students’ thinking about the concepts embedded in realistic situations. Click here to learn more about MEAs and how they can transform your classroom.