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|
|Teaching strategies and pedagogical approaches||Mathematics investigation|
|Strand and focus||Algebra, Apply understanding|
|Topics||Linear relationships, Non-linear relationships, Money and financial mathematics|
|AC: Mathematics (V9.0) content descriptions||
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
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
Number patterns and algebraic thinking (P7)
Proportional thinking (P6)
Understanding money (P8)
ReSolve: Maths by Inquiry
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