calculate expected value to analyze mathematical fairness, payoff, and risk;
Probabilistic and statistical reasoning. The student uses the process standards in mathematics to generate new understandings of probability and statistics. The student analyzes statistical information and evaluates risk and return to connect mathematical ideas and make informed decisions. The student applies a problem-solving model and statistical methods to design and conduct a study that addresses one or more particular question(s). The student uses multiple representations to communicate effectively the results of student-generated statistical studies and the critical analysis of published statistical studies.