In the Math Virtually Everywhere project you completed for this module, you learned all about cell phone plans. The best cell phone plan for a customer can vary based on how much they plan to talk. The plan that is the best deal for one customer may not be the best deal for another customer.
Types of cell phone plans:
a flat fee for unlimited calling.
a charge for every minute of talk.
a flat fee plus a charge for every minute of talk.
a flat fee that for a set number of minutes plus a charge for each additional minute.
In the project, you wrote and simplified expressions to find the best cell phone plans for customers based on their individual needs. You also wrote and solved equations to determine the number of talk minutes given a cell phone plan and total monthly bill.
Many services offer the option of charging by the hour or a flat fee, such as a limousine rental company. You could pay a flat fee to have a limo all night, you could pay by the hour, or you might be able to pay a flat fee for a certain number of hours, and then if you are having a really good time, pay by the hour to stay out longer!
Think about a time when you had to choose how to pay for something similar to the cell phone plan. Include your choices and how you came to a decision.
Choose an activity that you would like to do in the future (limo ride, hot air balloon ride, rent a recording studio, …) where the payment plan has options for either a flat fee or a pre-determined time frame. Explain what the choices are and how you would decide which option works best for you.
How would you like us to help you with this assignment?
When choosing how to pay for something, such as a limo ride or a hot air balloon ride, where the payment plan has options for either a flat fee or a pre-determined time frame, there are a few factors to consider in order to decide which option works best for you.
1. Duration of the activity: Determine how long you plan to engage in the activity. For example, if you know you only need a limo for a couple of hours, paying by the hour might be more cost-effective. However, if you plan to spend the entire night or an extended period of time, a flat fee might be more suitable.
2. Cost comparison: Compare the total cost of each option. Calculate the cost of paying by the hour and the cost of a flat fee and see which option provides better value for your money. Consider any additional charges or fees that may be applicable, such as overtime charges or taxes.
3. Flexibility: Consider whether flexibility is important to you. Paying by the hour allows you to have more control over the exact duration of the activity. If you want to extend the experience or end it early, paying by the hour gives you that flexibility. On the other hand, if you are certain about the duration and don't foresee any changes, a flat fee can provide a more predictable and hassle-free experience.
4. Personal preferences: Take into account your personal preferences and priorities. Some people may value convenience and simplicity, and a flat fee option may be preferred in such cases. Others may prioritize cost optimization and prefer paying by the hour to have more control over their expenses.
After considering these factors, you can make an informed decision based on which option aligns best with your needs and preferences. Remember to crunch the numbers, compare the costs, and evaluate the flexibility offered by each payment plan to determine the most suitable choice for you.