Spinner Games
Mathematical Modeling
Make your own and investigate fair games.
Introduction
Imagine you are the operator of a game, perhaps the one below? What prize value would you offer to make this game enticing? How much would you have to charge to make this a fair game or make a profit? Extension: Design your own game, collect some data to determine probabilities experimentally?
Guiding Questions
- What is the sample space for this scenario?
- How can you calculate the theoretical probabilities?
- What simulation methods could you use to verify your results?
- How does changing parameters affect the expected outcomes?
- What are the limitations of your probability model?
Key Mathematical Concepts
Probability
Statistics
Expected Value
Game Theory