Lesson 3

Lesson 3: Odds and Probability

Focus

For most people, winning the lottery is a dream. For only a few dollars you can select six numbers between 1 and 49 for example, and if those numbers are drawn, then you win the grand prize! The grand prize varies from one million dollars and up.

In this lottery scenario, the odds of winning the grand prize are 1 to 13 983 815. What does this mean? Do you have a good chance of winning? Does buying more tickets and choosing different numbers increase your chance of winning? What are the odds of you not winning the grand prize?

This lesson will focus on the concept of odds and probability. Perhaps winning a million dollars or more will become a reality for you!

Lesson Outcomes

At the end of this lesson you will be able to

• interpret statements pertaining to odds and probability
• connect odds to probability

Lesson Questions

You will investigate the following questions:

• What is the relationship between odds and probability?
• How are odds calculated?
• How does an understanding of odds and probability help you make decisions and solve contextual problems?

Assessment

Your assessment may be based on a combination of the following tasks:

• completion of the Lesson 3 Assignment (Download the Lesson 3 Assignment and save it in your course folder now.)
  
• course folder submissions from Try This and Share activities
  
• additions to Glossary Terms
  
• work under Project Connection

Materials and Equipment

You will need

• calculator