Parabolas for Profit

Parabolas for Profit

How can we, as market research analysts, help a local business make the most money?
Subjects: Mathematics
Grade Level: Middle School, High School
Timeframe: 18-20 hours

Project Description

As market research analysts working for locally-owned companies, students will determine the most profitable price point for one of their goods or services. They will gather and analyze data to establish suggested prices and develop and present their reports to the companies’ owners.

Project Context

Entrepreneurial spirit is strong in young people, and many will appreciate learning the business strategy behind the cost of local goods and services. As teens develop their buying power, it is also important for them to understand how businesses turn a profit and the role consumers play in a company’s success.

Final Product

Students create and present a market research analysis report.

Key Standards

  • S-ID6. Represent data of two quantitative variables on a scatter plot and describe how the variables are related.
  • F-IF 4 For a function that models a relationship between two quantities, interpret key features of graphs and tables in terms of the quantities, and sketch graphs showing key features given a verbal description of the relationship
  • F-BF 1 Write a function that describes a relationship between two quantities.

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The Project