18.9.11

Insurance and Probability

My students are out in the field! They are required to find someone from insurance company and learn how probability is used by them to calculate chance of dying. They will ask the person to explain mortality table used by the company and how they calculate insurance premium using it. 
Phew...I hope they learn something useful through this!
I did a background work with them, grade 11. Went over the meaning of probability and insurance. We discussed why insurance is needed. We also brain stormed a set of questions that they must ask the person they were going to meet. 
Next they will show me the result of the interview - written/recorded/video taped. Then we move forward with research and presentation of facts. 
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