Roll the Dice: Teaching Expected Value Using Randomly Assigned Grades

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In this lesson, students are taught the concept of expected value. Two example problems are provided to teach the concept of expected value. Students are then given the chance to analyze whether to accept a randomly assigned grade. Finally, expected value is used to determine when to enter the Powerball lottery.


by Tom Flesher

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Flesher, T. (2026). Roll the Dice: Teaching Expected Value Using Randomly Assigned Grades. Journal of Economics Teaching, 11(1), 67-74. DOI: 10.58311/jeconteach/09221e3e7465eaf71beb45321772ee49af60e0c7


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