Public learning track
Decision Analysis, Expected Value, and Risk Modeling
12th Grade · Math · Open Global Math
6 lessons
Goal
Use expected value, decision trees, and Bayesian updates to evaluate fair games, insurance policies, medical tests, and business choices.
Featured Diagrams
Evaluating Fair Games and Financial Decisions Using Expected Value
6 lessons
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- 1Evaluating Fair Games and Financial Decisions Using Expected ValueUp nextStart
- 2Comparing Insurance Plans Using Expected ValuePremiumNot started yet
- 3Decision Trees with Expected ValuesNot started yet
- 4Medical Screening: Sensitivity, Specificity, and Positive Predictive ValueNot started yet
- 5Probabilistic Risk Assessment and Expected Loss MinimizationNot started yet
- 6Fair Division, Randomized Mechanisms, and Game StrategyNot started yet
Curriculum Framework
12th Grade · Math · Open Global Math
1
6 lessons
Advanced Sample Spaces, Combinatorics, and Geometric Probability
Model complex random phenomena using set operations, advanced combinatorial counting, and geometric area representations.
2
6 lessons
Compound Probability Rules, Conditional Reasoning, and Independence
Apply the addition and general multiplication rules, evaluate formal independence, and solve multi-stage conditional problems.
3
7 lessons
Discrete Random Variables and Probability Distributions
Construct discrete probability distributions, calculate expected values and variance, and model Bernoulli/Binomial processes.
4
6 lessons
Decision Analysis, Expected Value, and Risk Modeling
Use expected value, decision trees, and Bayesian updates to evaluate fair games, insurance policies, medical tests, and business choices.