Welcome back to another blog everyone. We have recently been working on a project called Time is Money in Scimatics. In this project, we were to create a business, determine how long it would take to run, and estimate how much money it would generate over a specific amount of time. I feel like I gained real-world experience by metaphorically selling my goods to actual customers, I truly loved working on this project. I genuinely believe that my arithmetic abilities have improved significantly. I’ll walk you through the process of creating and calculating this business throughout this post.
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”
The Process
Choosing what we wanted to do as a business was our first Milestone. This required that we have the resources to make it a reality and that it be something we could offer, like a service or a product. I chose vehicle washing because I have access to all the materials and because I believed it would be easy to handle.
Then we spent a lot of time learning about construction. I completed numerous worksheets, workbooks, and textbooks that would eventually teach me how to properly graph and chart my firm so that I could precisely forecast its profitability.
We began developing the equation for our enterprises at the following milestone. This equation will allow me to see several aspects of my business, including how much money I would generate annually, how much my operating expenses were, and how long it would take me to recoup my initial investment. Check out the equation that served as the foundation for my business below:
Y=15x-700
I took questions on Khan Academy and the final unit test to consolidate my understanding of building. I was satisfied that I could complete this project with a thorough comprehension of the equation y = mx + b after assessing how well I did on all of the test’s questions.
I finally finished the graphs that would appear in my final film. I was able to calculate my starting cost, the time it would take me to recover my starting cost, how much money I would make in a year, Below are my graphs for your review.
To finish this project, and do a quick summary, we made a video. You can see the video I made below:
Curricular Competencies
Understanding and solving
I executed this project quite successfully because I was familiar with the tool we used to create our graph and the inputs required. I finished the workbooks with ease as well.
Communicating and representing
I feel like I did this pretty well, I showed my work clearly and represented the data and graphs pretty well.
Connecting and reflecting.
On this competency, I believe I did okay. I am aware of what we accomplished and how the procedure aided in producing our finished product. I am aware of what we did and how it benefited us.
In conclusion, this project was awesome and a great method to learn about graphing. I liked creating our graphs with the Desmos application and seeing how we connected them to real-world events.