Every Christmas there is at least one product that becomes the "must have" toy, and in 1976 it was Little Professor. In fact, so much so that Texas Instruments struggled to keep up with the demand. If you received one for Christmas in 1976, then you were one of the lucky ones.
The toy is a fine example of how a simple idea could be made into something very popular. With parents worrying that their kids were using normal calculators cheat at maths, a reverse calculator was a clever idea, and a great way for kids to actually learn arithmetic.
Version 2.0 was released in 1978, with another model released around 1980.
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This Creative Commons photo is by Chris Radcliff and was found at flickr
Wiz-A-Tron was a similar, but less well-known calculator game by Texas Instruments which was sold in 1977 in the U.S. I never had one of these, but I believe it worked in a different way, and you had to type in the question and answer together (such as 6+6=12) with the Wizard giving you the correct or incorrect answer.