Models of a Vending Machine Business


 Rosanna Baldwin
 2 years ago
 Views:
Transcription
1 Math Models: Sample lesson Tom Hughes, 1999 Models of a Vending Machine Business Lesson Overview Students take on different roles in simulating starting a vending machine business in their school that will generate a profit. TEKS (1) The student uses a variety of strategies and approaches to solve both routine and nonroutine problems. (A) compare and analyze various methods for solving a reallife problem. (C) select a method to solve a problem, defend the method, and justify the reasonableness of the results. Mathematics Overview simultaneous linear equations, depreciation, amortization, statistical probability (sampling) Materials Handouts with data, business roles and other information necessary for students to get started with the simulation. (3) The student develops and implements a plan for collecting and analyzing data in order to make decisions. (A) formulate a meaningful question, determine the data needed to answer the question, gather the appropriate data, analyze the data, and draw reasonable conclusions. (B) communicate methods used, analysis conducted, and conclusions drawn for a dataanalysis project by written report, visual display, oral report, or multimedia presentation. (C) determine the appropriateness of a model for making predictions from a given set of data. (6) The student uses algebraic formulas, graphs, and amortization models to solve problems involving credit. (A) analyze methods of payment available in retail purchasing and compare relative advantages and disadvantages of each option (C) use amortization models to investigate automobile financing and compare buying and leasing a vehicle. Lesson Resources spreadsheet program and/or graphing calculator contacts with local vending businesses. Related Resources Guides for small businesses Amortization tables Tom Hughes,
2 1. Setup (to set the stage and motivate the students to participate) 1.1. Most schools have snack and soda machines, so this should be a familiar business context. Have the class estimate the gross income for the vending machines in the school. This is how much money is spent on snacks and soda each day by the students. Students may want to interview friends outside of class as to how many snacks and soda they buy per week and what brands. It may be very powerful to compare these statistical predictions with the actual buying patterns at the school assuming the school does having vending machines While there are many different approaches to this kind of simulation, one possibility is to have each group of students take on the role of the partners in the business. Depending on their inclination and the instructor s, they could represent the student council, the business manager of the school, or someone starting up their own business by providing service to the school To set up the mathematics for this simulation, you may wish to have students brainstorm about the different kinds of expenses and service issues they might have to consider in the course of the simulation To focus attention on TEK #6, let the students know that one decision they must make is whether to purchase the machines via a loan (which leads to the concept of amortization) versus leasing the machines. Choosing to buy the machines will probably make the simulation more complicated and interesting if you have sufficient class time to deal with it. 2. Lesson Outline 2.1. Set up the lesson and outline the general parameters of the business One vending machine operator uses the rule of thumb that soda machines have about 5 times the business as snack machines (and also have no issues of spoilage) Another rule of thumb is that 30% of the people who go by the vending machines in a business situation will buy something in the course of a day New machines cost from $2500 to $6000 and have an effective lifetime of at least 7 years There are many vending machine companies with Web pages (search for vending machines). This may be a rich source of information for student projects Students should try to find the cost of specific machines that exist in the school or in other places where they might buy soda or snacks. Tom Hughes,
3 CocaCola rents soda machines at a fairly low cost ($20 per month) but you must then buy your soda from them. They absorb all repair costs but will take out any machines that have been vandalized more than twice Repair costs can vary greatly. CocaCola charges $56 per hour plus travel. One of the most common parts to repair or replace is the dollar bill validator which costs $125  $175 each plus labor CocaCola sells soda for $7.70 a case (24 cans) if you buy by the truckload. One truck has 24 pallets with 96 cases per pallet. If you buy 5 truckloads per month, their price drops to $6.00 per case If you own your own machines you can buy soda by the case from places like Sam s Club for slightly less than $7.00 per case (but they don t deliver) This is a good area for student investigation into the costs of soda in your area. Mathematically, exploring a cost difference of $1.00 per case in terms of the business model may make students more sensitive to multiplicative factors Do a basic cost/profit calculation as part of a breakeven analysis This can start off as a very simple analysis, comparing the gross profits on the machines (gross income minus cost of the snacks and soda) versus the cost of buying or leasing the machines. This introduces the use of simultaneous equations and the business concept of a breakeven analysis. The students may find this most meaningful as a graph of income vs. number of cases sold with the fixed expense plotted as a horizontal line An alternative set of simultaneous equations (both dependent on volume) is to plot both the gross income and the expenses versus the sales volume Depending on how much time you wish to spend on the lesson, you can have students add in estimates for repair and other service factors while revising their business model Using depreciation and amortization, decide whether to lease or buy machines While some sample costs are given above, different groups could work with different sets of parameters that would lead to different conclusions. 3. Guiding Questions (to engage students in mathematical thinking during the lesson) 3.1. What factors determine the amount of gross income? Volume of sales. Is this price dependent? (an opportunity for a survey question) Price per unit. Do you sell sodas at $.50, $.75, $1.00? What is the impact on income? What products sell best? In what proportions? How many individual machines are needed? Justify your answer with math. Tom Hughes,
4 3.2. What factors determine the expenses of operating this kinds of business Which factors depend on volume of sales and which are volume independent? This can be a good example of slope and yintercept in a linear equation How do you find a breakeven point? Graphs are probably the best tool for the initial analysis This is a great opportunity to have students use a graphical representation of an inequality. Students could color in the regions of profitability and net loss in green and red, for example Can you believe survey results? If you can spend the time you may want to work with probability If students find that half of their survey population buys one soda per day, how does that scale up for the whole school? A better analysis may categorize students as drinking no sodas, 1 per day, 2 per day, etc. This creates a nice problem in estimating the daily sales volume in the school What are the basic issues of leasing versus owning? Given a cost per machine and an interest rate, students can work out an amortization schedule on a spreadsheet or iteratively on a calculator A more complex problem can be created by adding in repair costs and depreciation factors What if? Students need to explore the boundaries of this situation. What if sales volume doubles over the next two years? What if more machines are needed? What if sales don t match expectations? This may be a good brainstorming activity for students which leads to them creating their own problems. 4. Summary Questions (to direct students' attention to the key math in the lesson) 4.1. What were the best mathematical tools for analyzing this business situation? 4.2. What is the best way to present your analysis so others will be convinced? 4.3. Can you trust surveys to give you realistic probabilities that something will happen? 5. Assessment Task(s)  (to evaluate what students have learned) 5.1. Final report detailing the students financial analysis of the business. Tom Hughes,
5 5.2. Class presentations 5.3. A quiz on specific pieces of the analysis: graphs of simultaneous equations, spreadsheets, etc Concept map of business financial terms and of this business in particular focusing on the relationship to expense and income. 6. Additional activities and projects 6.1. Get someone from a small business to talk about how they analyze a situation. Having someone from a vending machine business would be ideal Do a presentation for another class in the school. An economics class would be ideal Find college students involved in economics or business to come to your class as consultants. 7. Extension(s) (to lead students to connect the mathematics learned to other situations, both within and outside the classroom.) 7.1. Have students interview someone in the business community about how they deal with forecasts of increased and decreased demand Have students talk to someone who creates or makes use of market surveys. 8. Author s notes 8.1. Overview Types of decisions students are expected to make in this simulation: Lease the machines or buy them (do a cost comparison of leasing vs. amortization) Survey of students to help decide what products will sell best and at what volume Overall breakeven analysis at different sales volumes and pricing schemes 8.2. Objectives Students will learn the basic elements of small business finance: depreciation, amortization, breakeven analysis Students will use graphs and spreadsheets to evaluate situations and make mathematically informed decisions. Tom Hughes,
6 Students will conduct surveys to determine product preferences, predicted volume, pricing, and other issues Students will interpret this statistical data by scaling their results up to the whole school Students will integrate these concepts by making a final report and/or class presentation Materials required; activity preparation Students will benefit from basic knowledge of a spreadsheet program with access to computers as needed The teacher may wish to locate sources of data or create data for this simulation beyond what is provided in this document There are many vending machine companies that have Web sites Most schools have vending machines and the companies involved may be willing to share basic facts about the business with the students Many of the issues in this simulation are common to many small businesses. Having a business owner talk about how they set up a business model may provide some motivation for students There are many publications for small business owners. Finding examples of the same mathematics in these publications may provide some motivation. 9. Prepared class materials (at the end of this document) 9.1 Project overview for students 9.2 Introduction to surveying 10. If you use this lesson you can help other teachers: 10.1 Send samples of student work: Paper copies: Mail to: Tom Hughes, UT Dana Center, 2901 N. IH35, Austin, TX or FAX Attn: Tom Hughes, Computer files: Send as attachments to 10.2 Send copies of class handouts you have created (as above) Send copies of assessment materials: Rubrics, quizzes, presentation requirements, etc Brainstorm ideas for this project and others on the Math Models listserv (shared mailing list). Not on the MM mailing list? Send to Cynthia Schneider at the Dana Center and she will put you on the list. Tom Hughes,
7 10.5 Suggestions for improving the project or the materials can be sent in by any of the means above. Tom Hughes,
8 Models of a Vending Machine Business Have you ever wanted to run your own business? Most schools and businesses have snack and soda machines in the building and they make money. How much do you think students in your school spend every day on soda and snacks? Could you underbid the current service company and still make some money? It takes some money to start a business and banks are willing to lend money when you have a good business plan. Such a plan has to forecast many variables including the sales volume, the costs for equipment and supplies, and the net profit. In determining the numbers needed to make these forecasts, you are creating a financial model of the business. Whether you decide to get into vending or not, the methods and tools you will use in this project are useful in every business. Here s some basic information about the vending machine business. You will probably want to get more information since prices can change quickly if labor or transportation costs go up or down. 1) Soda machines do about 5 times the business of snack machines with no spoilage. 2) About 30% of the people who walk by a vending machine regularly will buy something in the course of a day. 3) New machines cost from $2500 to $6000 and last 7 or more years. 4) Big soda companies such as CocaCola and Pepsi rent machines at fairly low cost but you must buy your soda from them. They will pay for repairs but will take out any machine vandalized more than twice. 5) Repair costs are $50$60 per hour plus travel. One of the most common repairs is the dollar bill validator which is easy to replace but costs $125 $175. 6) While you should check current prices, CocaCola was recently charging $7.70 per case (24 cans) if you buy a truckload of 24 pallets with 96 cases per pallet. If you buy 5 truckloads per month, the price drops to $6 per case. Supply stores like Sam s Club may sell cases for as low as $7 but the prices change more often and they don t deliver. Getting started: Here s a brief list of the kinds of questions you need to answer for yourself (and the bank). Brainstorm with other members of your group to think of specific questions you need to ask and how you might go about getting anwers for these questions. 1) What is the sales volume in your school? What products? What if you raised or lowered prices? 2) What are the costs of equipment? Is it better to rent or to buy and pay off the loan in 57 years? 3) What are the costs of the consumables (soda, candy, etc)? 4) What are the repair costs? Is vandalism a problem? Can you buy insurance? Should you? Tom Hughes, 1999
9 5) Are they any labor or transportation costs? Should you advertise or have promotions? Collecting the information you need for your business It s rarely practical to ask every customer of a business what products they like best or whether they would buy more if the price went down. The alternative is to survey a sample of the population and try to scale up those results to the whole. For example, assume there are 2000 students in your school. If you asked 20 students at random whether they preferred Dr. Pepper or Coke and found out that 10 of them preferred Dr. Pepper but that only 15 of the 20 drank soda at school, what could you infer about the whole school? Is asking 20 people enough? What if you did two or three samples of 20 people each? Would you feel more confident about the results? How would you get answers to other questions? Do any work involved in answering these questions on a separate sheet of paper. 1) In your group, design a survey that you can give in one or two minutes to other students in the school. Try to first brainstorm all the questions you might want to ask and then narrow the list down to the most important. 2) Each person in the group should survey 10 to 20 randomly chosen students in the school before the next class period. 3) Organize your data into table and graphs and try to determine what the data tell you about the whole school. 4) As a group, share your results with the other groups in the class. Did they ask the same questions? What results did they get? 5) Do you have enough information now to estimate the daily sales of snacks and soda in your school? If not, how would you get this information? 6) Based on your answers in #5, how much money is spent each day in your school on snacks and soda? Using just the cost of the soda and snacks, what is the gross profit per day? 7) What other information do you need to estimate the expenses associated with this business? Tom Hughes, 1999
Linear Functions: Are You Ready for the REAL World? Grade Ten
Ohio Standards Connection: Patterns, Functions and Algebra Benchmark F Solve and graph linear equations and inequalities. Indicator 10 Solve realworld problems that can be modeled using linear, quadratic,
More informationSuggested Time Frame Time Frame: 4 th Six Weeks Suggested Duration: 13 days. Vertical Alignment Expectations
Title Scatterplots and Data Analysis Big Ideas/Enduring Understandings The student will understand how patterns are used when comparing two quantities. Suggested Time Frame Time Frame: 4 th Six Weeks Suggested
More informationAlgebra Bridge Project Cell Phone Plans
Algebra Bridge Project Cell Phone Plans Name Teacher Part I: Two Cell Phone Plans You are in the market for a new cell phone, and you have narrowed your search to two different cell phone companies 
More informationPart Five. Cost Volume Profit Analysis
Part Five Cost Volume Profit Analysis COST VOLUME PROFIT ANALYSIS Study of the effects of changes of costs and volume on a company s profits A critical factor in management decisions Important in profit
More informationCost Behavior and CostVolumeProfit Analysis QUESTIONS
Chapter 18 Cost Behavior and CostVolumeProfit Analysis QUESTIONS 1. A variable cost is one that varies proportionately with the volume of activity. For example, direct materials and direct labor (when
More informationPA Common Core Standards Standards for Mathematical Practice Grade Level Emphasis*
Habits of Mind of a Productive Thinker Make sense of problems and persevere in solving them. Attend to precision. PA Common Core Standards The Pennsylvania Common Core Standards cannot be viewed and addressed
More informationBusiness and Economics Applications
Business and Economics Applications Most of the word problems you do in math classes are not actually related to real life. Textbooks try to pretend they are by using real life data, but they do not use
More informationMeasuring the percentage of change
Measuring the percentage of change In this lesson students learn that prices and income do not remain static, but instead change over time. They learn how to compare income or the price of an object at
More informationLesson Plan. Financial Ratios Financial Analysis Finance. Performance Objective Students calculate financial ratios to evaluate company performance.
Financial Ratios Financial Analysis Finance Lesson Plan Performance Objective Students calculate financial ratios to evaluate company performance. Specific Objective Discuss the use of financial ratios
More informationAlgebra 1 Topic 8: Solving linear equations and inequalities Student Activity Sheet 1; use with Overview
Algebra 1 Topic 8: Student Activity Sheet 1; use with Overview 1. A car rental company charges $29.95 plus 16 cents per mile for each mile driven. The cost in dollars of renting a car, r, is a function
More informationAcquisition Lesson Plan for the Concept, Topic or SkillNot for the Day
Acquisition Lesson Plan Concept: Linear Systems Author Name(s): HighSchool Delaware Math Cadre Committee Grade: Ninth Grade Time Frame: Two 45 minute periods Prerequisite(s): Write algebraic expressions
More informationPrentice Hall Mathematics: Course Correlated to: Alaska State Content Standards: Math (Grade 7)
Alaska State Content Standards: Math (Grade 7) A. A student should understand mathematical facts, concepts, principles, and theories. 1. understand and use numeration, including numbers, number systems,
More informationCommon Core State Standards. Standards for Mathematical Practices Progression through Grade Levels
Standard for Mathematical Practice 1: Make sense of problems and persevere in solving them. Mathematically proficient students start by explaining to themselves the meaning of a problem and looking for
More informationLesson 4: Solving and Graphing Linear Equations
Lesson 4: Solving and Graphing Linear Equations Selected Content Standards Benchmarks Addressed: A2M Modeling and developing methods for solving equations and inequalities (e.g., using charts, graphs,
More informationTitle ID Number Sequence and Duration Age Level Essential Question Learning Objectives. Lead In
Title ID Number Sequence and Duration Age Level Essential Question Learning Objectives Lesson Activity Barbie Bungee (7580 minutes) MSMA1 Lead In (1520 minutes) Activity (4550 minutes) Closure (10
More information1. At what interest rate, compounded monthly, would you need to invest your money so that you have at least $5,000 accumulated in 4 years?
Suppose your grandparents offer you $3,500 as a graduation gift. However, you will receive the gift only if you agree to invest the money for at least 4 years. At that time, you hope to purchase a new
More informationConsumer Math (Mathematics of Finance) A Syllabus
Consumer Math (Mathematics of Finance) A Syllabus MA11.02.2.1 Course Description Consumer Math B is an extension of Consumer Math A and continues the focus on basic math skills used in everyday life with
More informationStudent Lesson: Absolute Value Functions
TEKS: a(5) Tools for algebraic thinking. Techniques for working with functions and equations are essential in understanding underlying relationships. Students use a variety of representations (concrete,
More informationAccommodated Lesson Plan on Solving Systems of Equations by Elimination for Diego
Accommodated Lesson Plan on Solving Systems of Equations by Elimination for Diego Courtney O Donovan Class: Algebra 1 Day #: 67 Grade: 8th Number of Students: 25 Date: May 1213, 2011 Goal: Students will
More informationThis lesson plan is from the Council for Economic Education's publication:
This lesson plan is from the Council for Economic Education's publication: Mathematics and Economics: Grades 35 To purchase Mathematics and Economics: Grades 35, visit: http://store.councilforeconed.org/mathandecon35.html
More informationPart Three. Cost Behavior Analysis
Part Three Cost Behavior Analysis Cost Behavior Cost behavior is the manner in which a cost changes as some related activity changes An understanding of cost behavior is necessary to plan and control costs
More informationHow to Forecast Your Revenue and Sales A Step by Step Guide to Revenue and Sales Forecasting in a Small Business
How to Forecast Your Revenue and Sales A Step by Step Guide to Revenue and Sales Forecasting in a Small Business By BizMove Management Training Institute Other free books by BizMove that may interest you:
More informationMath 1314 Lesson 8: Business Applications: Break Even Analysis, Equilibrium Quantity/Price
Math 1314 Lesson 8: Business Applications: Break Even Analysis, Equilibrium Quantity/Price Cost functions model the cost of producing goods or providing services. Examples: rent, utilities, insurance,
More informationCHAPTER 22 COSTVOLUMEPROFIT ANALYSIS
CHAPTER 22 COSTVOLUMEPROFIT ANALYSIS Related Assignment Materials Student Learning Objectives Conceptual objectives: C1. Describe different types of cost behavior in relation to production and sales
More information3.3 Applications of Linear Functions
3.3 Applications of Linear Functions A function f is a linear function if The graph of a linear function is a line with slope m and yintercept b. The rate of change of a linear function is the slope m.
More informationHigh School Algebra Reasoning with Equations and Inequalities Solve systems of equations.
Performance Assessment Task Graphs (2006) Grade 9 This task challenges a student to use knowledge of graphs and their significant features to identify the linear equations for various lines. A student
More informationGraphing Linear Equations in Two Variables
Math 123 Section 3.2  Graphing Linear Equations Using Intercepts  Page 1 Graphing Linear Equations in Two Variables I. Graphing Lines A. The graph of a line is just the set of solution points of the
More informationUnit 5: Analyze, Solve, and Graph Linear Inequalities
Unit 5 Table of Contents Unit 5: Analyze, Solve, and Graph Linear Inequalities Video Overview Learning Objectives 5.2 Media Run Times 5.3 Instructor Notes 5.4 The Mathematics of Linear Inequalities Writing,
More informationPPS TI83 Activities Algebra 12 Teacher Notes
PPS TI83 Activities Algebra 12 Teacher Notes It is an expectation in Portland Public Schools that all teachers are using the TI83 graphing calculator in meaningful ways in Algebra 12. This does not
More informationYou might be surprised to know that the word Tshirt wasn t really used until
Hot Shirts Using Tables, Graphs, and Equations, Part 2 Learning Goals In this lesson, you will: Use different methods to represent a problem situation. Estimate values of expressions that involve decimals.
More informationExponential Growth and Modeling
Exponential Growth and Modeling Is it Really a Small World After All? I. ASSESSSMENT TASK OVERVIEW & PURPOSE: Students will apply their knowledge of functions and regressions to compare the U.S. population
More informationCurrent Standard: Mathematical Concepts and Applications Shape, Space, and Measurement Primary
Shape, Space, and Measurement Primary A student shall apply concepts of shape, space, and measurement to solve problems involving two and threedimensional shapes by demonstrating an understanding of:
More informationC 5  COST BEHAVIOR: ANALYSIS AND USE notesc5.doc Written by Professor Gregory M. Burbage, MBA, CPA, CMA, CFM
C 5  COST BEHAVIOR: ANALYSIS AND USE notesc5.doc CHAPTER LEARNING OBJECTIVES: MAJOR:  Use the HighLow method to determine and calculate the structure of a cost.  Define, explain and use variable,
More informationQuadratic and Square Root Functions. Square Roots & Quadratics: What s the Connection?
Activity: TEKS: Overview: Materials: Grouping: Time: Square Roots & Quadratics: What s the Connection? (2A.9) Quadratic and square root functions. The student formulates equations and inequalities based
More informationICASL  Business School Programme
ICASL  Business School Programme Quantitative Techniques for Business (Module 3) Financial Mathematics TUTORIAL 2A This chapter deals with problems related to investing money or capital in a business
More informationTeaching & Learning Plans. The Correlation Coefficient. Leaving Certificate Syllabus
Teaching & Learning Plans The Correlation Coefficient Leaving Certificate Syllabus The Teaching & Learning Plans are structured as follows: Aims outline what the lesson, or series of lessons, hopes to
More informationOptimization Application:
GOLDen Mathematics: Intermediate Algebra Copyright 2000 Sally J. Keely. All Rights Reserved. Hi. Today's lesson is a bit different. It is one huge multipart reallife application of quadratic functions
More informationAGENDA: MANAGERIAL ACCOUNTING AND COST CONCEPTS
TM 21 A. Cost classifications for: AGENDA: MANAGERIAL ACCOUNTING AND COST CONCEPTS 1. Financial statement preparation. 2. Predicting cost behavior. 3. Assigning costs to cost objects. 4. Making decisions
More informationLESSON TITLE: Math in Special Effects (by Deborah L. Ives, Ed.D)
LESSON TITLE: Math in Special Effects (by Deborah L. Ives, Ed.D) GRADE LEVEL/COURSE: Grades 710 Algebra TIME ALLOTMENT: Two 45minute class periods OVERVIEW Using video segments and web interactives from
More informationUnderstanding Financial Statements. For Your Business
Understanding Financial Statements For Your Business Disclaimer The information provided is for informational purposes only, does not constitute legal advice or create an attorneyclient relationship,
More informationSolving Systems of Linear Equations Putting it All Together
Solving Systems of Linear Equations Putting it All Together Student/Class Goal Students thinking about continuing their academic studies in a postsecondary institution will need to know and be able to
More informationFinancial Plan. A) Estimated OneTime Financial Requirements. Part One
Financial Plan The Financial Plan is perhaps one of the most important components of your Business Plan (see Business Plan Handout). Not only is it essential if you are seeking external financing it is
More informationChapter 011 Project Analysis and Evaluation
Multiple Choice Questions 1. Forecasting risk is defined as the: a. possibility that some proposed projects will be rejected. b. process of estimating future cash flows relative to a project. C. possibility
More informationWeek 1: Functions and Equations
Week 1: Functions and Equations Goals: Review functions Introduce modeling using linear and quadratic functions Solving equations and systems Suggested Textbook Readings: Chapter 2: 2.12.2, and Chapter
More informationUNIT2: Session 13 : Cost analysis for planning and decision making :
UNIT2: Session 13 : Cost analysis for planning and decision making : * Cost classification and approach : A Marginal costing :  variable and fixed.  Variable cost is charged to the product unit.
More informationNumber Sense Benchmarks Geometry & Measurement Benchmarks Processes Benchmarks Words to numbers connection
CUTTING EXPENSES Outcome (lesson objective) Students will apply strategies for reducing expenses. They will practice operations with whole numbers and will construct bar graphs. Student/Class Goal Students
More informationLines, Lines, Lines!!! SlopeIntercept Form ~ Lesson Plan
Lines, Lines, Lines!!! SlopeIntercept Form ~ Lesson Plan I. Topic: SlopeIntercept Form II. III. Goals and Objectives: A. The student will write an equation of a line given information about its graph.
More informationWHY USE QUICKEN PERSONAL PLUS IN TEACHING ABOUT PERSONAL AND BUSINESS FINANCIAL MANAGEMENT?
WHY USE QUICKEN PERSONAL PLUS IN TEACHING ABOUT PERSONAL AND BUSINESS FINANCIAL MANAGEMENT? This article focuses on the features of Personal Plus and how it can be used to enhance students financial management
More informationRationale. Instructional Task
AE Strand(s): Algebra and Probability/Statistics. Sample Courses: Middle School Course 1, Middle School Course 2, Middle School OneYear Advanced Course, Integrated 3, Algebra I, and Algebra II. Topic/Expectation
More informationPerformance Based Learning and Assessment Task
Performance Based Learning and Assessment Task Staircases and Ramps I. ASSESSSMENT TASK OVERVIEW & PURPOSE: The students will use slope to describe the characteristics of ramps versus the stairs between
More informationSolving Systems of Linear Equations Putting it All Together
Solving Systems of Linear Equations Putting it All Together Outcome (lesson objective) Students will determine the best method to use when solving systems of equation as they solve problems using graphing,
More informationLesson 18: Introduction to Algebra: Expressions and Variables
LESSON 18: Algebra Expressions and Variables Weekly Focus: expressions Weekly Skill: write and evaluate Lesson Summary: For the Warm Up, students will solve a problem about movie tickets sold. In Activity
More informationHonors Geometry Summer Work
Name: For each question, complete your work on a separate sheet. Be prepared to support your answer. Honors Geometry Summer Work All students enrolled in Honors Geometry are expected to have this packet
More informationMath 1314 Lesson 8 Business Applications: Break Even Analysis, Equilibrium Quantity/Price
Math 1314 Lesson 8 Business Applications: Break Even Analysis, Equilibrium Quantity/Price Three functions of importance in business are cost functions, revenue functions and profit functions. Cost functions
More informationBasic Understandings. Recipes for Functions Guess My Rule!
Activity: TEKS: Recipes for Functions Guess My Rule! (a). (3) Function concepts. A function is a fundamental mathematical concept; it expresses a special kind of relationship between two quantities. Students
More informationOpenEnded ProblemSolving Projections
MATHEMATICS OpenEnded ProblemSolving Projections Organized by TEKS Categories TEKSING TOWARD STAAR 2014 GRADE 7 PROJECTION MASTERS for PROBLEMSOLVING OVERVIEW The Projection Masters for ProblemSolving
More informationHigh School Student Project: AppleWorks or MS Office Investing in the Stock Market
High School Student Project: AppleWorks or MS Office Investing in the Stock Market The Unit of Practice Invitation How can we give students an opportunity to apply the knowledge they ve gained from their
More informationCostVolumeProfit Analysis
HOSP 2110 (Management Acct) Learning Centre CostVolumeProfit Analysis The basic principles of CVP analysis were covered in business math. CVP analysis can be done both graphically, through plotting the
More informationProbability and Statistics
Activity: TEKS: Overview: Problems Kids Care About (K.12) Probability and statistics. The student constructs and uses graphs of real objects or pictures to answer questions. The student is expected to:
More informationSolving Linear Equations in Two Variables
CONCEPT DEVELOPMENT Mathematics Assessment Project CLASSROOM CHALLENGES A Formative Assessment Lesson Solving Linear Equations in Two Variables Mathematics Assessment Resource Service University of Nottingham
More informationComparing Value for Money: Baseball Jerseys
PROBLEM SOLVING Mathematics Assessment Project CLASSROOM CHALLENGES A Formative Assessment Lesson Comparing Value for Money: Baseball Jerseys Mathematics Assessment Resource Service University of Nottingham
More informationNumeracy and mathematics Experiences and outcomes
Numeracy and mathematics Experiences and outcomes My learning in mathematics enables me to: develop a secure understanding of the concepts, principles and processes of mathematics and apply these in different
More informationFINANCIAL INTRODUCTION
FINANCIAL INTRODUCTION In earlier sections you calculated your cost of goods sold, overhead expenses and capital cost in order to help you determine the sales price of your product. In your business plan,
More informationSpreadsheets and Databases For Information Literacy
Spreadsheets and Databases For Information Literacy What are students expected to do with data? Read & Interpret Collect, Analyze Make Predictions Compare & Contrast Describe Draw Conclusions Make Inferences
More informationComparing Simple and Compound Interest
Comparing Simple and Compound Interest GRADE 11 In this lesson, students compare various savings and investment vehicles by calculating simple and compound interest. Prerequisite knowledge: Students should
More informationPOSTER PROBLEMS LAUNCH POSE A PROBLEM WORKSHOP POST, SHARE, COMMENT STRATEGIC TEACHERLED DISCUSSION FOCUS PROBLEM: SAME CONCEPT IN A NEW CONTEXT
POSTER PROBLEMS Rating Rate Plans Sixth Grade Poster Problem Expressions and Equations Students learn how to describe cell phone rate plans using symbolic expressions. Also, students interpret expressions
More informationLesson Plan. Preparation
Marketing Information Systems Fashion Marketing Marketing Lesson Plan Performance Objective Upon completion of this lesson, the student will know the characteristics and purposes of the marketing information
More informationBREAKEVEN ANALYSIS. In your business planning, have you asked questions like these?
BREAKEVEN ANALYSIS In your business planning, have you asked questions like these? How much do I have to sell to reach my profit goal? How will a change in my fixed costs affect net income? How much do
More informationAlgebra I. In this technological age, mathematics is more important than ever. When students
In this technological age, mathematics is more important than ever. When students leave school, they are more and more likely to use mathematics in their work and everyday lives operating computer equipment,
More informationVISUALIZING THE HANDSHAKE PROBLEM
Grade: 5/Math VISUALIZING THE HANDSHAKE PROBLEM Brief Description of the Lesson: The students will investigate various forms of the handshake problem by using visualization problem solving like drawing,
More informationTake Charge of Your Finances Semester Course designed for 10 th 12 th grade students Class Period Length 45 minutes
Take Charge of Your Finances Semester Course designed for 10 th 12 th grade students Class Period Length 45 minutes SCANS Skills: Basic Skills: reading, writing, mathematics, listening, speaking Thinking
More informationFoundations for Functions
Activity: TEKS: Overview: Materials: Grouping: Time: Crime Scene Investigation (A.2) Foundations for functions. The student uses the properties and attributes of functions. The student is expected to:
More informationHigh School Functions Building Functions Build a function that models a relationship between two quantities.
Performance Assessment Task Coffee Grade 10 This task challenges a student to represent a context by constructing two equations from a table. A student must be able to solve two equations with two unknowns
More informationWorking with percentages. Introduction. Try these. Think about
Working with percentages Introduction You will have met percentages before. They are very useful because they are easier to work with than fractions and make it easy to compare things, for example, test
More informationHow to Study for Chapter 3 The Law of Demand Chapter 3 introduces the law of demand and the principle of elasticity.
1 How to Study for Chapter 3 The Law of Demand Chapter 3 introduces the law of demand and the principle of elasticity. 1. Begin by looking over the Objectives listed below. This will tell you the main
More informationPrioritized Common Core Mathematical Practice Standard(s) Supporting Common Core Mathematical Practice Standards
Math Solutions Lesson from the Classroom Stacking Cups A Lesson for Grades 9 12 Math Goal In this lesson, students use reallife experiences to build the concepts of yintercept as the starting point and
More informationThe Business Plan and You
The Business Plan and You BUSINESS STARTUP For more information, contact: The Business Link Edmonton: 100 10237 104 Street NW Edmonton, Alberta T5J 1B1 Calgary: 250 639 5 Avenue SW Calgary, Alberta T2P
More informationEducational Transfer Plan IISME Summer Fellowship Investigating Liner Equations Using Graphing Calculator
Joumana Alsumidaie Fisher Middle School Algebra 1 Educational Transfer Plan IISME Summer Fellowship 2005 Investigating Liner Equations Using Graphing Calculator Overview: Investigating Linear Equations
More informationTHE ONLINE BUSINESS SIMULATION GAME THAT MAKES LEARNING FUN! Teacher manual
Teacher manual Contents Introduction 2 Getting started Using the Teacher Reporting Console 3 Logging in Console tools 5 1 Inventory 2 The impact of price 3 Building a promotional plan 4 Raising finance/cash
More informationApplications of Linear Equations. Chapter 5
52 Applications of Linear Equations Chapter 5 53 After completing this chapter, you will be able to: > Solve two linear equations in two variables > Solve problems that require setting up two linear
More informationProblem Solving and Data Analysis
Chapter 20 Problem Solving and Data Analysis The Problem Solving and Data Analysis section of the SAT Math Test assesses your ability to use your math understanding and skills to solve problems set in
More informationIntroduction to Quantitative Analysis
Chapter 1 Introduction to Quantitative Analysis Quantitative Analysis for Management, Tenth Edition, by Render, Stair, and Hanna 2008 PrenticeHall, Inc. Introduction Traditionally business decisions have
More informationTEMPERATURE BAR GRAPH
TEMPERATURE BAR GRAPH Outcome (lesson objective) Students will figure mean, median and mode using weather, temperature data, create a bar graph charting one city s high and low temperatures, and formulate
More informationCredit: Pros and Cons
Credit: Pros and Cons Unit: 05 Lesson: 02 Suggested Duration: 4 Days Lesson Synopsis: All economic operations depend on the flow of money and credit through the economy. The focus of this lesson is to
More informationCostVolumeProfit Analysis
CostVolumeProfit Analysis Costvolumeprofit (CVP) analysis is used to determine how changes in costs and volume affect a company's operating income and net income. In performing this analysis, there
More informationProfits and entrepreneurship
LESSON 12 Profits and entrepreneurship TIME REQUIRED: One or Two Class Periods CONCEPTS: Total Revenue Cost of Production Profit Return on Investment Fixed Costs (Optional Activity) Variable Costs (Optional
More informationEQUATIONS and INEQUALITIES
EQUATIONS and INEQUALITIES Linear Equations and Slope 1. Slope a. Calculate the slope of a line given two points b. Calculate the slope of a line parallel to a given line. c. Calculate the slope of a line
More informationESTIMATING HOW MUCH THINGS COST
Educational Activities for students ages 8 and 9 ESTIMATING HOW MUCH THINGS COST LEVEL: ELEMENTARY SCHOOL AGE GROUP: STUDENTS AGES 8 AND 9 ACTIVITY SUMMARY During this activity, students become familiar
More informationTeacher: Maple So School: Herron High School. Comparing the Usage Cost of Electric Vehicles Versus Internal Combustion Vehicles
Teacher: Maple So School: Herron High School Name of Lesson: Comparing the Usage Cost of Electric Vehicles Versus Internal Combustion Vehicles Subject/ Course: Mathematics, Algebra I Grade Level: 9 th
More informationBreakeven Analysis. Breakeven for Services.
Dollars and Sense Introduction Your dream is to operate a profitable business and make a good living. Before you open, however, you want some indication that your business will be profitable, if not immediately
More informationIntegrating Technology into Adult Learning
Integrating Technology into Adult Learning Lynda Ginsburg The range of uses and applications of technology suggests a number of alternative approaches for integrating technology into adult basic education.
More informationSupport for Student Literacy
Support for Student Literacy Introduction In today s schools, many students struggle with English language literacy. Some students grow up speaking, reading and/or writing other languages before being
More informationA REI.2 Solve simple rational and radical equations in one variable, and give examples showing how extraneous solutions may arise.
Performance Assessment Task Magic Squares Grade 9 The task challenges a student to demonstrate understanding of the concepts representing and analyzing mathematical situations and structures with algebraic
More informationThis lesson plan is from the Council for Economic Education's publication:
This lesson plan is from the Council for Economic Education's publication: Focus: Middle School Economics To purchase Focus: Middle School Economics, visit: http://store.councilforeconed.org/focmidschool.html
More informationLesson 19: Real Estate Math
Real Estate Principles of Georgia Lesson 19: Real Estate Math 1 of 162 553 Solving Math Problems Four steps 1. Read the question. 2. Write down the formula. 3. Substitute the numbers in the problem into
More information1.4 Linear Models. Cost, Revenue, and Profit Functions. Example 1 Linear Cost Function
16314_02_ch1_p033112.qxd 7/17/06 4:10 PM Page 66 66 Chapter 1 Functions and Linear Models 77. If y and x are related by the linear expression y = mx + b, how will y change as x changes if m is positive?
More informationSupply and Demand Curves and Market Price Equilibrium
Teacher Notes Activity at a Glance Subject: Social Studies Subject Area: Economics Category: Production, Distribution, and Consumption Supply and Demand Curves and Market Price Equilibrium Activity 1 Exploring
More informationLesson 3: Constructing Circle Graphs. Selected Content Standards. Translating Content Standards into Instruction
Lesson 3: Constructing Circle Graphs Selected Content Standards Benchmarks Addressed: D1M Systematically collecting, organizing, describing, and displaying data in charts, tables, plots, graphs, and/or
More informationHelena Company reports the following total costs at two levels of production.
Chapter 22 Helena Company reports the following total costs at two levels of production. 10,000 Units 20,000 Units Direct materials $20,000 $40,000 Maintenance 8,000 10,000 Direct labor 17,000 34,000 Indirect
More information