Hello everyone and welcome back to another blog post. For the past few weeks in Scimatics, we have been working on a project called Time is Money. In this project we had to come up with a business idea and calculate how much money we would make from doing the business. I didn’t love this project, but it wasn’t the worst. 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 choice for my business.
As you can see, I chose to write songs. This business is quite hard to calculate the profit of because the money you make is based off of how well the song does, or how popular the song gets.
The next thing I did is made a spreadsheet including my business expenses, how much time it would take me to make one song, my start up costs, and how much money I would make for every 100 plays the song got.
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, and how much time it would take me to make back my starting costs. Here is my equation.
⬆️ ⬆️ ⬆️ ⬆️
Y= M X + B
Finally I worked on my final graphs that would be in my final video. Using my equation from earlier I was able to determine how much time will it take me to me back my starting cost, and how much I would make in a year. You can check out my graphs here
To finish up this project that displayed everything that I have done so far this project including you can check out the video below.
Understanding and solving –
I think I didn’t do so great on this competency. I definitely could have used my time in class better. I think that if I were to do this project again, I would fully utilize my class time.
Communicating and representing –
I think I did 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 earnings over a year. All of my graphs were labeled and explained in my video.
Connecting and reflecting –
I think I did well on this competency. Although my business was extremely difficult to calculate accurately, I think that I did the best that I could. I also talked about the impact of the environment that my business had.
Overall, this project challenged me in new ways, which were not the ways that I expected to be challenged. 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. Thank you for taking the time to read my blog, and have a great day.