Math Reflection for same math project

Math Reflection

By Bycessree( it was independent)

1. That the games that seemed to sell the best were the games were the ones with relatively high rewards and fun, but low chances to win. For example, Aaron's game had high rewards, but it was hard to win so they ended up winning, but those games also have another variable that changes the probability which is the skill. So you would want to make a fun game that is a high-risk high reward, and try to make the skill out of the equation so that someone good can't just keep playing the game.

2. That getting the same thing over, and over multiple times is very unlikely even when flipping a coin because of how the probability multiplies with the next amount to get the next thing. So for a coin, it would be ½ *½ which is just ¼ to get any of the combinations, and each time there becomes more combinations. That most carnivals have negative expected values so you should not play them, and if you do, and win something then you were lucky because they are designed to not lose money over time. That when you are trying to test something with multiple outcomes finding the probability can help you make more assumptions about the data because you can see it in a different way which could then even then be put into a graph to help be understood even further.

3. After seeing what everyone else did I would probably make the prices higher. Some of the reasons that I would do this is that there would be more players who would play the game and try to win. Since the prizes are higher, the entree fee would have to rise too so that it stays with a negative expected value.

4. We worked well together because we equally distributed the workload. Brooke was job was to do the writing part and mine was to do the building of the spinner, but we ended up doing about the equal amount for each because we didn't just solely work on making the spinner, or the writing it was a balance of each. One of the problems was that only one person could bring it home to work on, and she wanted to write the words. But we solved the problem by me finishing on the first night then giving it to her to fix, but that still was a problem we faced.

5. Fair games are games that have an expected value of 0 meaning that someone played the game multiple times they would not be expected to win or lose any money. In the Las Vegas games are made to be addicting, and so they would lose money. I think that this is ok because the people playing the games to not have to play the games, and sometimes they may win something because some people just want to have that chance to win something even if they don't. This is like with the lottery because most people know that they will not win because some are selling millions of tickets but only 10 of them are winning tickets, but they want that chance. I do think that it is bad if they are wasting all their money on the lottery or casino games. So there should be help provided to people who have these types of addictions.