Expected value
When making a decision about uncertain outcomes in the future, integrate probabilistic thinking into everyday decisions by applying expected value (magnitude x probability) to appropriate situations.
K–2 Competencies
Classroom resources
Data Science Starter Kit Module 4: Drawing Conclusions - Interpreting Problems and Results
Welcome to one of the most critical skills in data science—learning how to draw valid conclusions from data and understanding what those conclusions can and cannot tell us. This module focuses on the thinking skills that separate good data science from misleading claims.🔗
Interpreting Problems and Results isn’t about complex statistical tests or advanced mathematics. It’s about developing the intellectual honesty and critical thinking skills to say, “Based on this data, here’s what we can reasonably conclude, here’s what we’re not sure about, and here’s what we still need to investigate.”
3–5 Competencies
Discuss the relationship between magnitude and probability. e.g., is a small chance of a large-sized event equivalent to a medium chance of a medium-sized event
Classroom resources
Data Science Starter Kit Module 4: Drawing Conclusions - Interpreting Problems and Results
Welcome to one of the most critical skills in data science—learning how to draw valid conclusions from data and understanding what those conclusions can and cannot tell us. This module focuses on the thinking skills that separate good data science from misleading claims.🔗
Interpreting Problems and Results isn’t about complex statistical tests or advanced mathematics. It’s about developing the intellectual honesty and critical thinking skills to say, “Based on this data, here’s what we can reasonably conclude, here’s what we’re not sure about, and here’s what we still need to investigate.”
6–8 Competencies
Numerically compare the impact of two events with different magnitudes and probabilities to determine which scenario is preferable. e.g., financial problem; 10% chance of receiving $100 vs. 50% chance of receiving $50
Classroom resources
Data Science Starter Kit Module 4: Drawing Conclusions - Interpreting Problems and Results
Welcome to one of the most critical skills in data science—learning how to draw valid conclusions from data and understanding what those conclusions can and cannot tell us. This module focuses on the thinking skills that separate good data science from misleading claims.🔗
Interpreting Problems and Results isn’t about complex statistical tests or advanced mathematics. It’s about developing the intellectual honesty and critical thinking skills to say, “Based on this data, here’s what we can reasonably conclude, here’s what we’re not sure about, and here’s what we still need to investigate.”
9–10 Competencies
Identify and accurately employ the Expected Value equation (EV = P (Xi) * Xi) across multiple contexts to compare scenarios involving multiple trials. e.g., insurance policies, lotteries
Solve a real-world comparison problem using a digital spreadsheet, such as selecting insurance policies or entering different lotteries. e.g., choosing insurance policies, entering different lotteries
Classroom resources
Data Science Starter Kit Module 4: Drawing Conclusions - Interpreting Problems and Results
Welcome to one of the most critical skills in data science—learning how to draw valid conclusions from data and understanding what those conclusions can and cannot tell us. This module focuses on the thinking skills that separate good data science from misleading claims.🔗
Interpreting Problems and Results isn’t about complex statistical tests or advanced mathematics. It’s about developing the intellectual honesty and critical thinking skills to say, “Based on this data, here’s what we can reasonably conclude, here’s what we’re not sure about, and here’s what we still need to investigate.”
11–12 Competencies
Justify the Expected Value equation (EV = P (Xi) * Xi) with formal probability statements and by explaining the Law of Large numbers.
Apply the Expected Value equation to assess its fitness for the problem by determining the accuracy of the estimate based on the number of trials conducted. e.g., flipping a coin 100 times and determining if getting heads 30 times is reasonable when the expected value is getting heads 50 times
Classroom resources
Data Science Starter Kit Module 4: Drawing Conclusions - Interpreting Problems and Results
Welcome to one of the most critical skills in data science—learning how to draw valid conclusions from data and understanding what those conclusions can and cannot tell us. This module focuses on the thinking skills that separate good data science from misleading claims.🔗
Interpreting Problems and Results isn’t about complex statistical tests or advanced mathematics. It’s about developing the intellectual honesty and critical thinking skills to say, “Based on this data, here’s what we can reasonably conclude, here’s what we’re not sure about, and here’s what we still need to investigate.”
Advanced Competencies
Classroom resources
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