Rivergum Market Probability Revision
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Rivergum Market Probability Revision
🎯 Key Ideas
Probability Scale: Chance is measured from 0 (impossible) to 1 (certain). We can express probability as fractions, decimals, or percentages.
Experimental Probability: Based on past data. If it rained 3 out of 10 years, P(rain) = 3/10 = 0.3 = 30%
Averages: Mean (add all values ÷ number of values), Median (middle value when ordered), Mode (most frequent value)
Misleading Graphs: Truncated axes (not starting at 0) can exaggerate differences
📝 Worked Examples
Solution: Fine weather occurred 6 out of 8 years
P(fine) = 6/8 = 3/4 = 0.75 = 75%
Solution:
Mean = (8 + 12 + 8 + 15 + 20) ÷ 5 = 63 ÷ 5 = $12.60
Ordered: $8, $8, $12, $15, $20 → Median = $12
Mode = $8 (appears twice)
✏️ Now You Try
🔥 Fluency Questions
P(rain in summer) = 0.2, P(food truck sells out) = 75%, P(live music plays) = 9/10
🎯 Medium Questions
🚀 Challenge Questions
✅ Quick Checklist
🎫 Exit Ticket
📋 Worked Solutions
Now You Try: P(student wins) = 3/12 = 1/4 = 0.25 = 25%
Question 1: 0.2 (20%), 75%, 9/10 (90%). Order: 0.2, 75%, 9/10
Question 2: P(rain in Oct) = 6/30 = 1/5 = 0.2 = 20%
Question 3: Total votes = 15 + 25 + 8 + 12 = 60. Food trucks: 25/60 = 41.7%
Question 4: Mean = (320+280+350+290+340+300+330) ÷ 7 = 2210 ÷ 7 = 315.7. Ordered: 280, 290, 300, 320, 330, 340, 350. Median = 320
Question 5: Starting at $350 makes the $100 difference look much larger proportionally. The bars appear about 3 times different in height, but the actual difference is only 25%.
Question 6: $0-$9: $5,$8,$5,$8,$5 (5 values), $10-$19: $12,$15,$18 (3 values), $20-$29: $25 (1 value), $30-$39: $30 (1 value). Mode interval: $0-$9
Question 7: Prediction: 5 × 0.6 = 3 years with perfect weather. This is not certain - it's our best estimate based on past data, but actual results may vary.
Exit Ticket: 0.4 = 40%, which is less likely than 50%. The coffee van running out is unlikely (less than fifty-fifty chance).
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