Hello everyone and welcome back to another blog post. Recently, in Scimatics, we have been working on a project called Time is Money. In this project we had to make a business and calculate the time it took to run it and how much money we would make. I really enjoyed this project because I feel like I got real world experience by selling my product to real people. I also really think that I made a lot of progress on my math skills. Throughout this post I will be taking you on the journey of making and calculating this business.

Driving question: How can we predict our finances for the future?

Answer: We can predict our finances for the future by gather data and graphing the equation “y = mx + b”

To start this project off, we picked our top topics that we wanted. Below you can see my top choices for my project ⬇️ 

In the end, I chose to bake cookies and sell cookies. I decided to sell a product rather than a service.

After that we did lots of building knowledge. I did lots of work sheets and workbooks and read lots of textbooks that would later help me understand how to properly graph and chart my business in a way that I could accurately predict my business‘s profit.

After doing lots of workbooks I spent a week baking and selling cookies. I then collected the data from my business. For example, how much time it took to make each batch, how much money it took to start my business, etc.

After this I started working on the equation for my business. This equation will let me see many things about my business like how much money I would make in a year how much my business costs were and how much time it would take me to make back my starting costs. Below you can check out the equation that my business was based around ⬇️ 

To finalize all of my building knowledge I did Khan Academy quizzes and the final unit test. I think this was a really good way for me to test all of my final knowledge that I gain from this project. After seeing how well I did on all of the questions on the test I was confident that I could finish this project with a solid insufficient understanding of the equation y = mx + b.

Finally I worked on my final graphs it would be in my final video. I have in my equation from earlier I was able to determine my starting cost how much time will it take me to me back my starting cost and how much I would make in a year and how much money I would make in 10 minutes. You can check out my graphs below ⬇️ 

To finish up this project that displayed everything that I have done so far this project including you can check out the video below ⬇️ 

Curricular Competencies

Understanding and solving – 

I think I did pretty well on this competency. Even though I worked next to my best friend, I was still highly effective and got all of my work done on time. I made sure to use the time we got in class to do other things for other projects wisely and that time ultimately helped me get ahead in my other projects.

Communicating and representing – 

I think I did very well on this competency. I used my equation that I had made earlier on in the project to be able to predict profit per transaction, how much money I would make every hour, and predict my NET earnings over a year, as well as over 10 years. All of my graphs were labels and explained in my video.

Connecting and reflecting – 

I think I did very well on this competency. I compared my earnings in one year to 3 other businesses. I also considered the value of my time and how much money I was making. I also talked about the impact of the environment that my business had. 

Overall, this project was very fun. I enjoyed getting to learn about how money my time was worth. I also learned a lot of new math skills that will be applied to future grades and life. I enjoyed actually getting to sell my products to real world people. Thanks so much for reading this post on Time = Money

Best wishes,

-Dana