answer these quistions like a 14 year old would do it
Hi Ben,
I'm looking over your portfolio, and you did a nice job sharing about inequalities! However the work you have shared is not what the portfolio asks us to complete.
Here are some tips to help with this portfolio. For Task 1, decide on an item you would like to make and sell for a business, and answer the following questions:
1) What is the item for your business?
2) How much does it cost to make that item?
3) How much money are you investing in your business?
4) How much money will you sell the item for?
For example, let's say it costs $20 to make a shirt that you will sell for $60, and you have $200 to invest in your business. The numbers you will use for your portfolio are different, I am using these numbers to share as an example.
For Task 2, we are asked in part a to write an inequality to represent the fact that while making your product you can't exceed the spending limit. For my example here, it costs $20 to make each shirt, and we can't spend more than $200 (since this is the amount we have to invest in our business). To write this as an inequality we will have: 20x ≤ 200
For part b, solve this inequality for x (in this case we would divide 20 to both sides of the inequality, which gives x ≤ 100) and then graph the answer on a number line. Tasks c and d asks us to write an equation and find the total earnings:
Total earnings = selling price * amount of shirts you can make
Selling price is $60, and the amount of shirts you can make is 100. Multiply these together to find the total earnings.
Now, answer question e) Don’t forget that at the beginning of the process you had to spend some of your own money to get started. With the costs taken into account, what was your total profit? Did you make money or lose money? Now that you have these values, would you adjust your business plan from Task 1? If so, how?
I am going to excuse Task 3, you can focus on redoing Task 2 following my process above. Be sure to pick 1 item to work with, and use different amounts than I used :)
I know this is a lot of info, it might be helpful to copy this and paste it into a word document in order to read and work through it, and to create your own example to add in the drop box.
Hey Ben,
So I was checking out your portfolio and it's pretty cool! But I think you kinda missed the mark on what we were supposed to do.
For Task 1, you gotta pick something you wanna sell for your business and answer these questions:
1) What's the thing you wanna sell?
2) How much does it cost to make it?
3) How much money are you gonna put into your business?
4) How much are you gonna sell it for?
Like, let's say you're making shirts. Each shirt costs $20 to make and you're gonna sell them for $60. Also, you have $200 to invest in your business. I'm just using these numbers as an example, you gotta come up with your own.
Now for Task 2, part a asks you to write an inequality to show that you can't spend more than a certain amount. So in our shirt example, you can't spend more than $200 on making the shirts. So the inequality would be like 20x ≤ 200.
Part b asks you to solve that inequality for x (in our case, you would divide both sides by 20 to get x ≤ 10) and then show it on a number line.
For Task 2, parts c and d, you gotta write an equation and find the total earnings. The equation would be like: Total earnings = selling price * amount of shirts you can make. So in our example, the selling price is $60 and you can make 10 shirts, so the total earnings would be $600.
Now question e asks you to think about the money you spent in the beginning and figure out if you made a profit or lost money. With all the costs taken into account, what's your total profit? Did you end up making money or not? And now that you know all this, would you change your business plan from Task 1? If you would, how would you change it?
You can skip Task 3, just focus on redoing Task 2 like I explained before. And make sure to pick your own item and different amounts for everything!
I know this is a lot to take in, you can copy and paste it into a Word document to work through it and add your own example. Have fun!
Answer the quistions
1) What's the thing you wanna sell?
I want to sell homemade bracelets.
2) How much does it cost to make it?
It costs $5 to make each bracelet.
3) How much money are you gonna put into your business?
I'm investing $50 in my business.
4) How much are you gonna sell it for?
I will sell each bracelet for $15.
For Task 2, part a, the inequality would be 5x ≤ 50, since I can't spend more than $50 on making the bracelets.
To solve this inequality for x, I would divide both sides by 5. So x ≤ 10.
On a number line, I would represent this by shading the area from 0 to 10.
For parts c and d, the equation for total earnings would be: Total earnings = selling price * amount of bracelets you can make. So in this case, total earnings = $15 * 10 = $150.
Now for question e, considering the costs taken into account, my total profit would be $150 - $50 = $100. So I made a profit of $100. Based on these values, I wouldn't change my business plan from Task 1. Selling bracelets seems to be a good idea!