Friday, April 27, 2012: 8:00 AM-9:00 AM
204 B (Convention Center)
Lead Speaker:
Thomas G. Edwards
Co-Speaker:
S. Asli Ozgun-Koca
Using tree diagrams and expected value, construct a decision tree and use it to decide how large a deductible on automobile collision insurance to carry. The speakers will use an Excel spreadsheet to model the probability of having accidents of various damage amounts and conduct simulations using the associated probabilities.
Presentation Format: 9-12 Session
Grade Band Audience: 9 to 12