The Price Is Right! (What price is right?) By George Bigham EDSU 533, Fall 2011 If you could open your own business… What would you sell? How could you decide the best price to sell it for? What information could help us decide the best price? • Can we find that information? How? How can we use math to help us find the best price? (Make the most money!) Plan: Collect Information (Survey classmates) Use charts, graphs, and equations to analyze your data Discuss your results with group and class Sample survey question and table • If you could only buy would you buy it? Would buy for: Free $10 $12 $15 $20 Yes (product) for __$ X___ Standards • Algebra II 10.0: Students graph quadratic functions and determine the maxima, minima, and zeros of the function. • Algebra II 24.0: Students solve problems involving functional concepts, such as composition, defining the inverse function and performing arithmetic operations on functions. • Prior knowledge activation of Algebra I 5.0 and 13.0 for the data collection, graphing, and eventual composition of functions to find an equation for Profit = Price x #sold Rational • The content objectives are to model a real life problem using math and is stated explicitly on slide 6. • Technical language will be introduced at the end of the lesson to describe student discovered and interpreted concepts. • Choice of focus item is meant to give students the ability to link the topic to their own background. • Content links increase gradually in complexity from modeling simple data to combining equations to finding maximums.