# reSolve: Mathematical modelling – Pricing for profit

In this unit, students approach the problem of how to price a product to maximise profit, in this case, items sold at a school fair to raise money. The unit involves students in iterative cycles of model improvement as they consider more sophisticated versions. As they work through the unit, students see how varying the assumptions that they make affects the mathematical model they develop.

Year level(s) Year 8
Audience Teacher
Purpose Teaching resource
Teaching strategies and pedagogical approaches Mathematics investigation
Keywords modelling, profit

## Curriculum alignment

Curriculum connections Numeracy
Strand and focus Algebra, Apply understanding
Topics Linear relationships, Non-linear relationships, Money and financial mathematics
AC: Mathematics (V9.0) content descriptions
AC9M8A02
Graph linear relations on the Cartesian plane using digital tools where appropriate; solve linear equations and one-variable inequalities using graphical and algebraic techniques; verify solutions by substitution

AC9M8N05

Use mathematical modelling to solve practical problems involving rational numbers and percentages, including financial contexts; formulate problems, choosing efficient calculation strategies and using digital tools where appropriate; interpret and communicate solutions in terms of the situation, reviewing the appropriateness of the model

Numeracy progression Number patterns and algebraic thinking (P7)
Proportional thinking (P6)
Understanding money (P8)