Applied Maths activity where students must calculate how much an insurance company will make, and how much they can afford to charge , depending on premiums and probability of payout.
Consolidates knowledge on probability and a good real life problem to engage students in something they may have to think about.
Generates good discussions, and is open to further probing questions/calculations.
Answers provided for Scenario 1. Scenario 2 uses random dice rolls so students will generate different answers - some will make a profit, others will make a loss.
Consolidates knowledge on probability and a good real life problem to engage students in something they may have to think about.
Generates good discussions, and is open to further probing questions/calculations.
Answers provided for Scenario 1. Scenario 2 uses random dice rolls so students will generate different answers - some will make a profit, others will make a loss.
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