When I was a teacher it was part of the Algebra II curriculum. Not a whole separate course, just about a month’s worth of material.
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My ex-wife got super pissed off while playing a game when I declined to agree to her claim that the fact that a 3 hadn’t been rolled in a while meant it was more likely that it would come up soon.
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I think that there are too damn many AP tests that exist, and that it is hard to claim that most high schools have teachers qualified to teach many of them. But I also think that some core set of subjects make sense for AP tests.
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I think that’s how it is here too. It’s touched on in one of the Jr. High classes too.
And if for their last math class they opt for “College Math” instead of Pre-calc or Calculus, there’s a unit that deals with probability there too.
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FTR - in that class there is also a unit that deals with financial things like mortgages, including the formulas for lump sums and annuities. I’m sure most of it doesn’t sink in, but it’s there.
The school also has a required “financial literacy” class. I’m not sure what exactly they go over in that one.
Hard disagree here. Using the reflection principle to analyze simple random walks is one of the most beautiful ideas in all of mathematics, and even caused Feller to revise his classic text just to include it.
Sadly unless you either took a course taught from Feller, or are a math PhD, you probably haven’t seen the reflection principle.
I can’t find a copy of Vol 1 Chapter 3 of Feller online, but here is a Caltech lecture that borrows from it:
http://www.math.caltech.edu/~2016-17/2term/ma003/Notes/Lecture16.pdf
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One of my high school math teachers, who sadly died quite young, taught a similar course. He felt that one of the most useful things he could do for his students was convince them never to waste money on the lottery. He would do an example each year in which they computed the odds of winning the lottery. He would then roll a massive ball of string down the length of the longest hallway in the school (which was really long, there were over 700 kids / grade and the building was huge). They then worked out that the probability of winning the lottery was the chance of hitting a pencil mark on the string with a randomly thrown dart. He said the demonstration always blew everyone’s mind.
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Perhaps that is partly the result of video games giving the player a “pity bonus” after a certain number of lootboxes, Pokéballs, etc. delivered poor results.
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I got to work with the Actuarial Foundation to develop curriculum on probability that also highlighted the (P&C) actuarial profession:
Shake, Rattle, Roll Unit Plan (scholastic.com)
I’m proud that it’s actually part of the ERIC database:
ERIC - ED540555 - Shake, Rattle, & Roll: Teaching Guide & Poster. Expect the Unexpected with Math[R], Actuarial Foundation, 2013
Link to the Actuarial Foundation general site for the Scholastic series:
Expect the Unexpected With Math - The Actuarial Foundation
I also had a hand in many of these programs
It is nowadays. Several times.
I think a few decades ago it was less common, but I remember learning rudimentary stuff like rolling dice and stuff in high school in the 80s. But annuities were definitely not covered.
I seem to recall earlier this year helping my son (in pre-calc) with some geometric series questions that were really annuities, although I don’t think that word was used.
I know someone who says buying lottery tickets is paying the stupid tax.
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That’s a really neat visual. I’ll bet the kids remembered.
I have a simpler one, but not a visual.
“If you want to play Powerball, keep it simple. Just select the numbers 1, 2, 3, 4, 5, and 6. That’s easy to remember so you can see if you win.”
“But, the odds against that sequence have to be astronomical !”
“Yes, the chance of getting that sequence is extremely low, and yet it is exactly the same as any other six numbers you might choose.”
Too much actuary in me not to point out that 1, 2, 3, 4, 5, 6 probably has the lowest expected value of any combination due to having the most people play it so you have to split the jackpot a gazillion ways. It’s also the case that most combinations that doesn’t feature a number above 31 are lower in EV than combos that have at least 1 number above 31 because lots of people play birthdays.
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Amazing!
That’s the combination for my luggage.
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I used to have a locking briefcase that used that combination.
How did you know?! 
I’ll agree on the odds of sharing the prize. But, I think the winning probability concept is still worthwhile.
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great success today. well, moderate success. my turn as a shill for the industry went fine. more participation in the later class than the 1st hour.
kids asked the pointed question about an actuarial career - what do we make? I told them there is plenty of data out there - govt data (BLS) seems to merge all definitions of actuary while I told the class about the fierce battle of who is allowed to call themself an actuary. pointed them to a sal survey and said a new fellow makes…$100K-$150K? not the only reason to pursue it, but…it’s only the best job in the world!
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