Name:____________________________ Date: 01/03/2024

Grade: 8 Section:_________________ Subject: Mathematics

Name of the Unit: The Language of Chance Duration: 40 mins

G8-U3 Summative-Assessment
Criteria D & C

Name of the Topics: ● Qualitative handling of probability

● Probability of simple events
● Sample spaces
● Probability scale, including significance of number
● Theoretical probability and experimental probability
● Relative frequency
● Response rates
● False Positive and False Negative
● Sets, including notation and operations up to three sets
● Probability with Venn diagrams, tree diagrams and sample spaces
● Mutually exclusive events
● Combined events
● Exhaustive events
● Inclusive events
● Complementary events
● Independent events (without & with replacement)
● Dependent events (without & with replacement)
● Representation of Sample Space - 4 ways
● Properties of set operations

Assessment objective in Criterion D: Applying mathematics in real-life contexts

focus: i. identify relevant elements of authentic real-life situations.
ii. select appropriate mathematical strategies when solving authentic
real-life situations.
iii. apply the selected mathematical strategies successfully to reach a
solution.
iv. explain the degree of accuracy of a solution.
v. explain whether a solution makes sense in the context of the authentic
real-life situation.
Criterion C: Communicating
ii. select appropriate forms of mathematical representation to present
information.
iii. move between different forms of mathematical representation.

Key Concept and Related Key concept - Logic

concepts catered: Related concepts - Representation and Systems

Global Context catered: Identities and Relationships

Statement of Inquiry: Logic is a powerful tool to systematically represent the connections across
individuals and communities.
Instructions about the assessment:

- Online Assessment
- Desmos Scientific Calculator
- Wiris Editor Link
- Polypad
- Formula Booklet Reference, Command Terms and TSC

Criterion D: Criterion C:
Criteria Applying mathematics in real-life contexts Communicating
(Out of 8) (Out of 8)

Achievement Level

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
 Cryptocurrency in India: A World of Digital Money

Today, we're diving into the exciting world of cryptocurrency, also known as "crypto" for short. Imagine money
existing not in physical bills or coins, but on the internet, stored securely and transferred digitally.
Cryptocurrency investments can generate profits. Cryptocurrency markets have skyrocketed in value over the
past decade, reaching almost $2 trillion. Bitcoin was valued at more than $680 billion in crypto markets in
November 2023.

Cryptocurrencies have become a popular tool with criminals for nefarious activities such as money laundering
and illicit purchases. Cryptocurrencies have also become a favorite of hackers using them for ransomware.

What is cryptocurrency?

Think of crypto as a special type of digital money. It's created and managed using powerful computers and
complex math, not by banks or governments. It's traded online, and people can use it to buy things, send
money, or even invest.

For Reference Watch this Video

Why is it interesting?

Crypto is like a new kind of money that's still young, but it's getting a lot of attention because it's different from
what we're used to

No boss: No single person or bank is in charge, unlike your piggy bank or the money your parents keep.
Super safe: It uses special codes to keep everything secure, like a secret handshake between your money and
the computer.

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
Travels quickly: Sending money to friends or family across the globe can be faster and cheaper with crypto,
like sending an email instead of a letter.
Cool new ideas: People are using crypto in creative ways, like helping charities or making fun new games,
just like a brand new set of building blocks.
.
Are cryptocurrencies safe investments?
Cryptocurrencies can be risky, especially for beginners. Here's why:

Ups and downs: Crypto prices can jump a lot one day and then crash the next, unlike your allowance which
usually stays the same. This is called volatility.
Fake money and bad guys: There are people who try to trick others with fake crypto or steal it through hacks.
Be careful who you trust and where you keep your crypto.
Technical maze: Using and storing crypto can be confusing, especially at first. It's like learning a new
language, and mistakes can be costly.
.
You are a crypto market analyst who works for a renowned stockbroking agency and is looking forward to
developing cryptocurrency trading software in India. Armed with data and insights, you're preparing a
presentation aimed at educating other analysts and potential investors.

After your research on the existing market, you provided details of 417 people investing in cryptocurrency,
where each individual is at least a part of one of the 3 categories below

Young Tech Enthusiasts (A): 200 investors; they like making money, trying new tech, and trading crypto often.

Individuals Seeking Alternatives - Unbanked/Underbanked (B): 150 investors; who use crypto to send money
abroad, live far from banks, or lack documents for regular accounts.

Socially Conscious Investors(C): 100 investors; who use crypto for charity and believe in its potential.

Also,
20 investors were both young tech enthusiasts and individuals seeking alternatives.
10 investors were both young tech enthusiasts and socially conscious investors.
127 investors were only the individuals who were seeking alternatives.
2 investors were young tech enthusiasts, individuals seeking alternatives, and socially conscious investors.

1. Identify any 3 relevant elements that will help you find the probability of only young tech enthusiasts
based on the given data.
(Criterion D: Strand i)
- Total number of investors (417 people)
- Total number of investors who come under two or more categories.
- Total number of investors who do not come under any of the categories
-

2. Select and apply the appropriate mathematical strategies to construct a Venn diagram using the link to
represent people who are associated with cryptocurrency investment as given in the data, and state the
missing values in the table.
(Criterion D: Strands ii, iii)
(Criterion C: Strand iii)

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
 <Place your completed Venn Diagram screenshot here>

Sr. No. Set region / set operation Cardinality (number of investors)

1 𝐴∪𝐵∪𝐶 n(S)=417
Total number of investors=417

2 𝐴∩𝐵∩𝐶 n(S)=2
People coming under all the categories=2

3 (𝐴 ∪ 𝐵 ∪ 𝐶)' n{S}=0
Total number of people not investing=0

3. Select and apply the appropriate mathematical strategies to calculate the probability (in percentage) of
a randomly selected investor being only a young tech enthusiast.
(Criterion D: Strand iii)
(Criterion C: Strand ii)

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
4. Select and apply the appropriate mathematical strategies to calculate the probability (in percentage) of
a randomly selected investor being an individual seeking alternatives or being socially conscious.

(Criterion D: Strand iii)

(Criterion C: Strand ii)

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
5. Explain the degree of accuracy of your solution regarding the probability of an investor being only a
young tech enthusiast based on the data of cryptocurrency investors provided to you.
(Criterion D: Strand iv)

Information given: the information given is after a conducted research already on the number of
investors of each category. However the soure to the particular research is not given hence, the degree
of accuracy is hampered.
Rounding off: there was rounding off also done by me in the final solution so it the solution is not
accurate.
Therefore due to the above points described I believe that the degree of accuracy of the investor being
young tech enthusiast is inaccurate.

6. Explain whether your solution regarding the probability of an investor being only a young tech enthusiast
makes sense in the context of an authentic real-life situation based on the data provided. Comment on
the global context associated with human nature and human dignity, moral reasoning and ethical
judgment.
(Criterion D: Strand v)
The solution makes sense in real life as theere are different types of people present in the investing of
cryptocurrency wherin people can have different view over thee currency.

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24
 Therefore the human dignity, moral reasoning and ethical judgement depend on thee ideologies have
are encompassed within a person depending on what they study about investments.
\
The solution makes sense in real life as theere are different types of people present in the investing of
cryptocurrency wherin people can have different view over thee currency. The total number of young
investors were taken out of 417 people of whom the data was taken into consideration therefore it
makes sense.

Name of Educators: Aman K., Mahek K., Jay S.,Sumit V. Fountainhead School, 2023-24