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1. In the Games Fair, which game would work with the Binomial Distribution? Create the probability distribution table in a spreadsheet where X is a
1. In the Games Fair, which game would work with the Binomial Distribution? Create the probability distribution table in a spreadsheet where X is a random variable representing the points won. Calculate the expected value and compare to the 10 points it costs to play the game. Create the probability bar graph in a spreadsheet as well. Link to all games in game fair: https://docs.google.com/document/d/1cgwwfM0I4q0KMvWHSdvU-sA9S4GWL8qMY2nx3BU5RbQ/edit?usp=sharing 2. Compare the method of calculating expected value with the table to the formula for Binomial presented in this activity. What are the pros and cons of each? 3. Create your own Games Fair game with 4 or more outcomes using a Binomial situation presented in this lesson (simulated with a spinner or random number) and adjust the point values so that a cost of 10 points would make the game profitable (the game operator will make more money from the game running over and over). Be sure to justify why it is profitable and explain the process it took to find profitable outcomes. Cover the following: : determine expected value of a binomial distribution : display all the probabilities of all the possible outcomes in a table and bar graph : solve probability problems that arise from a binomial situation : make a connection between the sum of xP(x) and a simple expected value formula
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