Money Duck
by Dan Meyer
skips
questions
Act One
 Teacher noteHave students share their responses with their neighbors. Find the high and low in the class.
Act Two
 1.
What information would be useful to know here?
 2.
What do you think this mathematical model is trying to tell you about Money Ducks?
 ImageProbability Distribution Image
 3.
Which of these probability distributions are possible and which are impossible? Why? How do you know?
 ImageImpossible & Possible Distributions
 4.
If you're selling Money Ducks for $5, why is each of these distributions bad for business?
 ImageBad for Business Distributions
 5.
Make up a price for each of these distributions so that the buyer and seller won't gain or lose money over the long run.
 ImagePrice the Distributions
 Teacher noteThis is your moment to teach Expected Value. The ball is on the tee. They've done a lot of informal thinking about EV. Now you can formalize it.
 6.
What is the expected value of each of these distributions?
 ImageCalculate Expected Value
 FileHandout w/ All These Questions
Act Three
 Teacher noteAnswers
1. It tells you all the possible events for the Money Duck and the likelihood of each event.
2. B and C are impossible because the total probability exceeds 100%. D is impossible because the total probability doesn't reach 100%.
3. A is bad for business because people will eventually stop buying your ducks. B is bad for business because you're giving away a lot of $50s for only $5.
4. Answers will vary.
5.
A: $6.5
B: $30.60
C: $21.35
D: $17.20
Sequel
 LinkThe Price
 7.
Given this price of the Money Ducks, decide on a distribution that would give you a $3 profit per duck over the long run.
 LinkThe Money Animal Marketplace
show 72 more questions









What is the cost of Money Duck? Will I make or lose money if I buy a bunch of them?











what how much money is that? also its not really awesome because it might charge you 1000 dollars for 1 buck or 1000 dollars for 50 bucks
























How evenly distributed are the different dollar amounts in the set of ducks?








What is the probability that you will purchase a money duck that has a fifty dollar bill inside?


What is the percent of soaps that contain a bill larger than a dollar?



Were the ducks worth the money I spent? But do I know the amount each duck cost?





What's the true distribution of denominations? (I already saw the great, "How much would you pay?)










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