Project Goal: Create a game that is both enticing to play AND that will make money for the host in the long run.
Project Parameters:
1. You must work within your table groups of 3-4 people.
2. Prizes must be in increments of $1
3. Payouts for your game must range from $1 to $10. No prizes can exceed $10 (because Mrs. Dorsing has only printed so much money...)
4. Your game must be simple enough so that you can create a probability model for it.
Materials:
In class, you will have the following materials provided:
You may also use materials from home that may include: Apps on your personal device, spinners from board games, other dice, etc. BE CREATIVE!
Designing Your Game
STEP ONE: List the possible outcomes (dollar amounts), and their probabilities in a table. You will NOT display this table - it is for planning purposes only.
STEP TWO: Find the expected value of your game and decide on a price to charge PER PLAY.
STEP THREE: Create a sign to advertise your game. Come up with a creative name for your game and advertise the price to play. You should also list out the ways to win your game along with their probabilities.
STEP FOUR: Play your game on casino day! You MUST keep your income separate from any money you are given to spend. You must also keep track of how many times your game is played.
STEP FIVE: Count your total income (minus what you were given to start). Divide this by the number of times your game was played. This is your experimental earnings per play.
Questions for Reflection:
1. How well does your experimental earnings per play match your expected value? Do you think you had enough people playing your game?
2. Did you charge an appropriate amount for your game so that you could make money? Why or why not?
3. What would you change about your game if you could do this project again?