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.

Additional details
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 content descriptions	ACMNA194 Solve linear equations using algebraic and graphical techniques. Verify solutions by substitution ACMNA189 Solve problems involving profit and loss, with and without digital technologies
National numeracy learning progression	Understanding money Number patterns and algebraic thinking - NPA7
Copyright details
Organisation	ReSolve: Maths by Inquiry
Copyright	© Australian Government Department of Education, Skills and Employment 2021. Creative Commons BY-NC-SA 4.0.