Discover How Two Way Tables Are Used To Determine Auto Insurance Deductibles and Premiums
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Students collect data from a hands-on activity involving Colors Goldfish® Baked Snack Crackers to learn how to create a two-way table, find the marginal distribution, and find the conditional distribution. Students then use given data to find marginal and conditional distributions to determine which groups are at higher risks of receiving a traffic ticket. Lastly, students use this information and investigate other factors to determine how insurance companies compute auto insurance deductibles and premium payments.
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