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.