Learning outcome
1.1

1.1 Demonstrate a coherent understanding of the mathematical sciences.
2.1

2.1 Exhibit depth and breadth of knowledge in the mathematical sciences.
3.1

3.1 Investigating and solving problems using mathematical and statistical methods.
4.1

4.1 Communicate mathematical and statistical information, arguments, or results for a range of purposes using a variety of means.
5.1

5.1 Demonstrate personal, professional and social responsibility.
A1

use technology to create simulations, explore mathematical models and perform calculations.
A2

discuss the long term expected outcomes for both the player and the casino (or other gaming host);
A3

compare different investments and choose the best one;
K1

describe the mathematical models which underpin games of chance;
K2

explain concepts of probability with a discussion of historical and contemporary applications;
K3

employ techniques for exploring the impact of gambling using descriptive statistics;
K4

apply techniques for comparing alternative financial investment strategies.
S1

perform calculations of probabilities;
S2

explain and calculate conditional probabilities and independent events;
S3

discuss and use Bayes` rule;
S4

use conventional mathematical notation associated with probability and combinatorics;
S5

describe and do calculations involving discrete probability distributions;
S6

discuss the probability of winning various games of chance;
S7

apply the concepts of variance and standard deviation for discrete distributions;
S8

use graphs, tables and formulas for financial calculations and modelling investment;