Welcome back to my blog. Today I’ll be talking about our Scimatics (Science+Mathematics) project, Time Is Money. The focus of this project was to show what it takes to start a small business, and what costs and man hours you would need to put into it to make it successful.
I’ll be breaking this down into three different sections, each of them are the different curricular competencies we’re being assessed on.
First: Understanding & Solving
This competency was all about figuring out the statistics and logistics of starting a new business. This meant figuring out expenses, time, charging price, and start up costs.
The job that I chose was ski waxing. Above is all the information that would help us with the project. However, I’m not charging for office space because I would be working from home, we are also assuming that I would have customers 24/7, and I’m not covering things like marketing, phone bills etc.
Second: Communicating & Representing
This competency was all about the math. Our main goal was to figure out an equation that would give us a graph, showing what our business revenue would look like.
(My Equation: Y=($45 – $1.58)/1.28 x – $138)
After we had found our equation, we put it into a graphing software called Desmos. From there, Desmos graphed it for us, and we screenshot it and handed it in.
(I start at -$138, and it would take me 4 hours to break even)
Finally: Connecting & Reflecting
This was the final competency, and one I don’t think I had worked on before. For this competency, it was all about comparing how our job would preform, if someone wanted to live a everyday life off of it.
With the research I had done I found that, although my job payed over average, it is a seasonal job and you would only be able to do it for half the year. Also, even if you lived in a studio apartment, and only had the average grocery bill, you still wouldn’t be able to live off of my job, and thats with only the bare minimum of expenses in mind.
So, in the end, I found that a seasonal job isn’t ideal for anyone to live off of. I also learned realistically how much taxes take away from you in the end. Also, places in Vancouver are very expensive.
Thanks for reading, I hope you enjoyed.
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