ERIC Number: EJ939734
Record Type: Journal
Publication Date: 2004
Abstractor: As Provided
Reference Count: 11
The Lottery: A Dream Come True or a Tax on People Who Are Bad at Math?
Ashline, George; Ellis-Monaghan, Joanna
PRIMUS, v14 n4 p303-314 2004
We present a lottery project for lower level mathematics courses that demonstrates financial decision making in a context familiar to students. Students use elementary principals of probability and financial mathematics to compare the expected values of buying Powerball lottery tickets to some basic savings plans. Then, they compare the expected values of the current lottery game with its previous versions. We also provide suggestions for extending the project for more advanced courses and an annotated resource list.
Descriptors: Probability, Mathematics Instruction, Mathematical Concepts, Comparative Analysis, College Mathematics, Teaching Methods, Income
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education
Authoring Institution: N/A