Health Insurance in America Part 1: Probability, Expected Value, and Risk
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- Health Insurance in America: Rolling Dice, Expected Value, and RiskThis five part, mix-and-matchable, large group simulation activity illustrates the fundamental probability dynamics involved in the area of health insurance. In every part, students start with some money and a die (these can be physiPrice $12.00Original Price $15.00Save $3.00
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Health Insurance in America: Rolling Dice, Expected Value, and Risk
This five part (mix-and-matchable) simulation activity illustrates the fundamental probability dynamics involved in the area of health insurance. In every part, students start with some money and a die (these can be physical or virtual, though virtual is easier) and roll to simulate whether they get sick.
In each part, students will observe who in society needs insurance most and least, will see how insurance providers use probability to set insurance premiums, and will see how government policies like universal healthcare and nutrition programs can affect social outcomes. In this part, students explore the following concepts and skills around statistics and public health policy.
- Part 1: Why insurance exists, simulation, basic probability rules, intuition of expected cost.