Name:___________________ Come to boulangerie La Miette Specializing in Croissants Plain or chocolate 240 9th ave. LaSalle, Quebec Open 7 days a week from 7am to 6 pm How many of each type? Pierre and Mary Miette own a small bakery that makes the best croissants. They pride themselves on only making two types, perfectly. They make plain croissants and chocolate covered croissants. Their challenge is to figure out how many dozens of each type they need to produce each morning. What they know: The Miettes know that each dozen of their plain croissants requires .75 kg of dough, and that each dozen of chocolate croissant requires .5 kg. of dough as well as 200 grams of chocolate (.2kg). They also know that each dozen plain requires 12 minutes (.2 hrs.) to prepare and each chocolate takes 3 minutes more (15 minutes or .25 hrs.) Their ability to produce is limited by four factors. 1. Their supplies – they have 200 kg of dough and 45 kg of chocolate at most. 2. Oven space and rack space - they have oven and cooling space for 300 dozen. 3. Labour – they have a maximum of 75 man hours of prep time available. 4. Demand – they know that the most plain croissants they can sell is 260 dozen. The Miettes wish to produce a number of each type of croissant that will allow them to make the most money possible taking costs into consideration. The plain croissants sell for $18 a dozen and cost $8 to make. The chocolate croissants sell for $24 a dozen and cost $11 to make. How many dozens of each type of croissant should they produce in order to make as much profit as possible? Your Assignment: You own a consulting firm for small businesses, and the Miettes have hired you to help them optimize their production based on the information we have learned. Not only do you want to give them the best advice, you also have to effectively communicate the information to them in clear mathematical terms, and appropriate visual aids. Use your newly acquired math skills to prepare a presentation for the Miettes. You should include: 1. A solution to the Miette’s question including the equations involving quantities of ingredients, oven space, and prep time, including the amount of croissants they will be baking. 2. A graphic representation of the situation. 3. A clear and precise summary of all the information, as well as your calculations. Name:__________________________ Translating the Situation Write down any wording or phrasing that will influence the amount of croissants that will be produced. Include any symbols associated with the information. Language from problem Meaning and symbols Tracking information: Types of croissants: _____________________ & ____________________ Total dough needed:________________ Total Chocolate needed:_____________ Total prep time needed:_____________ Space for total numbers of croissants…how many? __________________ Name:___________________________ Oven Space Handout How many of each type do we make each day? Once you have read the context description, you will have enough information to begin helping the Miettes to figure out how much money they can make. We need to establish how many dozens of each type of croissant they need to bake to maximize their profit. The start, the Miettes have described the total amount of space available for cooking and cooling the croissants in racks. 1. To start we need to assign variables to the two undefined quantities of croissants, remembering we are talking about the baked goods in terms of dozens. We need to consider plain and chocolate croissants using precise descriptions so… Let X = ______________________________________________ Let Y = ______________________________________________ 2. Reread the problem and write down the number of dozen of croissants the Miettes could bake each day if they produced their maximum. 3. Formulate an inequation representing this situation keeping in mind that they might not always use the whole oven just for these two types of croissants, but rather a maximum of that number. 4. Verify (algebraically) or test to see if the following numbers of dozens of croissants respect the oven space as formulated above. A) (50,90) B) (270, 100) C) (200.100) 5. 6. Graph this inequality below. Label the axes and points accordingly. Show your work here. (table of values and test point) Label the three points from the previous page on the graph. 7. Which region shows the number of croissants that will respect the constraint? That is, where on the graph are the possible numbers of each type of croissant? ______________________________________________________________________________ Name:_____________________ Prep Time at La Miette Handout Other than physical space limiting the number of croissants the Miettes can make, time will also restrict the number of each type they can produce. There is a limit on the number of man hours available, and each type of croissant takes a certain amount of that time to prepare. 1. Once again, X and Y will represent the number of dozen of each type of croissant…list those variables again: ● Let X = __________________________ , Let Y = ___________________________ 2. From the context page, identify how much time each type takes as well as the total time available…list the information below, and then formulate a constraint. ● Time to produce a dozen plain in minutes:__________________ in hours:_______________ ● Time to produce a dozen chocolate in minutes:_________________ in hours:______________ ● Total time available : _________________ We will use the prep time in terms of hours. 3. Formulate the constraint that expresses the number of dozen croissants of each type as they relate to the total time available: 4. Represent the solution set for this constraint on the graph on the next page. Make sure to label the graph appropriately. Show the table of values and the verification point here. 4. Continued 5. Select 3 possible pairs (X,Y) from the graph and verify them using the equation. One point should be from the feasible region, one from the line itself, and one from the non feasible region. Show your calculations and conclude true or false for each. Name:______________________ Available Ingredients Handout The next major limit on how many croissants of each type we can produce has to do with available ingredients. There is only so much dough to use for the croissants, and there is only so much chocolate available for the type that uses it. Therefore, the amount of croissant ingredients will restrict the quantity produced t. 1. Once again, it is important to recall what the variables are for this situation. The quantity of plain and chocolate croissants (in dozens) needs to be clearly identified. Let X = _____________________________________ Let Y = _____________________________________ 2. Look back at the context page and record the information regarding available ingredients. Start with the dough, and remember the same dough is used for both types. ● How much dough is used to produce a plain? ________________ ● How much dough is used to produce a chocolate?_______________ ● How much dough is available in total to use as a maximum? ___________ 3. What constraint can be formulated in order to understand the possible quantities of croissants based on dough? ______________________________ There are other ingredients!!! We also know that the Miettes can produce a certain amount of home-made chocolate to fill one type of croissant. This represents a second, equally important limit, but pertains to only one type of croissant! 1. Keeping in mind your variables (especially the relevant one here) ● How much chocolate is used to make one dozen croissants? ________________ ● How much chocolate do they have in total? __________________ 2. What other rule can you establish for ingredients. Remember that only one type of croissant uses this chocolate! 3. Represent both constraints on the same graph on the next page. Show your work here, and clearly label your graph. Make sure to highlight or emphasize the feasible region. 3. continued - Graph: 4. Pick one ordered pair representing one possible combination of croissants and VERIFY that point for both inequations below…show your work! Name:_____________________ Demand Constraint Handout 1. Which variable is affected by demand? ___________________________ 2. What inequation can be used to express this limit?___________________________ 3. Represent this limit on the graph below: Name:______________________ Establishing the profit function Now that we have explored the limits to the Miette's production, we need to take a moment to consider how they have established their pricing. Read the context again, but this time focus your attention on information relating to what the Miettes charge for each of their two types of croissants, as well as what it costs to produce each croissant. Record this data below. 1. Costs: Cost to make a dozen plain croissants is:________________ Cost to make a dozen chocolate croissants is:_______________ 2. Revenue: A dozen plain croissants brings in ____________ in revenue. A dozen chocolate croissants brings in _____________ in revenue. 3. Profit: Since profit is what is left over once we subtract costs from revenue, we can calculate the profit for each of the two variables with that simple calculation. What is the profit for a dozen plain?________________ What is the profit for a dozen chocolate?________________ 4. Put these two pieces of information together by formulating a rule for the target objective of maximizing the Miette's profits in terms of X and Y!!!! P = ________________________________ Name:____________________ Putting it all together!!! So now you have completely analysed the business model of the Miettes' croissant initiative. Now is the time to put all of your information in one place and to integrate your work. 1. Identify the variables (again) Let X = ____________________________ , Let Y = ______________________________ 2. List all of the constraints. 3. Place all constraints on the same graph on the next page. 4. Show the final feasible region or polygon of constraints using a bold outline. 5. Locate the vertices of the feasible region. 6. Name 3 other possible solutions from inside the feasible region 1. _______________ 2. _______________ 3._________________ 7. Put all the corner points as well as the others you named into the table using the profit function. Vertex P=___________________________________ 8. What is the Miette's maximum possible profit from these points? __________________________________ 9. How many of each type of croissants should they be producing in order to achieve that profit? ________________________________ REFLECTION Consider the questions below and write up your responses using a google doc. 1. What did you notice about points at the corners of the polygon compared to points inside the feasible region? 2. Why wouldn’t the family just make one million croissants of each type in order to become rich overnight? Give at least 3 reasons from the context. 3. What was the most difficult part of this process? 4. What do you feel you learned in terms of concepts or skills having done this exploration? Extension Design Your Own Business 1 23 4 5 1 <http://www.entrepreneur.com/dbimages/article/h1/study-entrepreneurship-bang-buck.jpg> <http://www.vatp.lv/sites/default/files/imagecache/story_full/lampinas_tulpes.jpg> 3 <http://takecontrolmaryland.com/pepco/images/small_business_main_image.jpg> 4 <http://www.glassdoor.com/blog/wp-content/uploads/small-biz1.jpg> 5 <http://www.glassdoor.com/blog/wp-content/uploads/small-biz1.jpg> 2 Name:_____________________ Smart Business! In order to apply the concepts we learned from the last exploration, it is time to develop your own business model. You will use the Miettes as inspiration and work with a partner to create a realistically based situation. Goal: Your goal is to write up a basic business plan in order to procure a bank loan. To do so, you must prepare a document explaining the business, its location, its costs, and its profitability based on real world research! The bank loan requested should be enough to get you through your first 2 months of operation. The process is outlined below. 1. 2. 3. 4. 5. 6. 7. 8. 9. To begin with you will pick a partner. Your choice must be approved by me. You must discuss with your partner what kind of business you will be designing. What 2 products will you be selling? Please remember these are products to be produced and not services. Keep it realistic! Company name. Where will you be located? What will your business hours be? Create a Logo for your store sign. This will receive a grade for creativity and visual appeal. Select a number that realistically represents the maximum inventory you could have on hand. The number should be realistic. How will you estimate this accurately? Show your calculations! Formulate a constraint based on this number. The constraint should resemble the one the Miettes used for oven space. Consider the cost to produce each of your two items. How much would each cost you to buy/make, and how much money do you have to start 10. your business? Run these numbers by a banker (me) if you need guidance. Again, keep it real and be prepared to justify your estimate Formulate a constraint that represents your budget and costs. 11. Let’s assume you sell a minimum of one type of these two products. What would a reasonable estimate be for that product? 12. Formulate a constraint based on your estimate above. 13. How much will you charge for each item? What will your profit be for each? 14. What rent will you be charged? (How can you get an accurate estimate?) and can you cite it? 15. What RULE could be used to calculate the profit of your business? 16. Represent your constraints on a graph. 17. Optimize! Points to consider: 1. 2. 3. 4. ● ● ● ● Be Real!!! Where will you learn your information? The information surrounding space, rent, and pricing can and should be researched accurately!!! While estimates are acceptable, real numbers found with research or through demonstrable calculations are better! Be Neat!! Your information poster should look awesome. If you are not an artists, clip art and on-line images(cited) can go a long way. Use Desmos! This will help you tweak your numbers so that a feasible region will exist. Track and record changes you have to make to your original numbers to make them work. IB students must write a short reflection on the process which will include summaries of the following: research challenges changes made to make the situation viable. General impressions of the project. Business Project Template & Checklist Your business plan should follow the following sequence. Template - Fill in the following template in order to make sure you have completed all aspects of the project and presentation. A) Name 1 - __________________ Name 2 - ____________________ B) Business Name : __________________________________________ C) Two Products sold (with discription and images): _________________________ & ________________________ D) Actual Location and Address E) Hours of Operation F) Logo (created ones show more originality) as cover page: G) State and title the three constraints you have to formulate. Explain any calculations used to arrive at the numbers you used. Title each. H) Show the graph of your polygon of constraint. I) Make an optimization table. J) Show your projected profit, explain total costs and ask for the need amount of money to cover the costs of running the business for the first 2 months. 5 4 3 2 1 Labelling of Variables Always defines both variables correctly. Answers all questions pertaining to variables correctly. Defines both variables correctly most of the time. Answers most questions pertaining to the variables correctly. Defines both variables correctly some of the time. Answers some questions pertaining to variables correctly. Rarely defines both variables correctly. Rarely answers questions pertaining to variables correctly. Very rarely defines variables correctly. Very rarely answers any questions pertaining variables correctly. Formulating Constraints Always uses proper inequation symbol. Always formulates constraints correctly. Uses appropriate inequation symbol and formulates constraints correctly most of the time. Uses proper inequation symbol some of the time. Formulates constraints correctly some of the time. Rarely uses appropriate inequation symbol. Rarely formulates constraints correctly. Very rarelyr uses correct inequation symbol. Very rarely formulates constraints correctly. Graphic Representation s All graphs are properly created: A correct table of values with at least two coordinates is created. Points are correctly plotted and the line is correctly drawn, while respecting the inequation symbol (dotted vs. solid). Graphs are correctly created most of the time. A table of values with at least two coordinates is created, these points are properly plotted and the inequation symbol is respected when the line is drawn (dotted vs. solid). Graphs are correctly created some of the time. A tables of values with at least two coordinates is constructed, these points are plotted and the inequation symbol is sometimes respected when the line is drawn (dotted vs. solid). Graphs are often incorrectly created.Table s of values contain several mistakes, points are rarely plotted correctly and inequation symbol is rarely respected when line is drawn. Graphs are most often incorrectly created.Table of values are either completely incorrect or not present, points are incorrectl y plotted, or not plotted at all and inequation symbol is very rarely respected when line is drawn. Verification All verifications are done correctly: a test point is clearly indicated (on and off graph), where this point is in relation to the line is stated(above/below ), it is correctly tested and as a result, the feasible region is correctly shaded. Most verifications are done correctly: a test point is indicated, where this point is in relation to the line is stated(above/below ), it is correctly tested and the feasible region is shaded. Some verifications are done correctly: a test point is indicated,, it is correctly tested and , the feasible region is shaded. Verifications are rarely done correctly: no test point is indicated or tested, but the feasible region is shaded either correctly or incorrectly. The majority of the verifications are done incorrectly. No test point is mentioned and the feasible regions are incorrectly indicated. Optimizing Optimization is Majority of Optimization is The majority Optimization Clarity done correctly: the feasible region is clearly indicated, corner point are labelled, 3 points from the feasible region are indicated, the target objective is identified, the optimizing function is correct and appropriately used, the final solution is correct. optimization correct. Feasible region, points from the region and corner points are indicated, target objective is indicated, optimizing function is mostly correct and used with minimal error. partially correct: feasible region, points from the region, corner points, target objective and optimizing function are partially correct. of the optimization process is incorrect. The majority of the following are incorrect: feasible region, points from region, corner points, target objective, optimizing function and its use. is incorrect or incomplete. All work and steps are clear, titled/labelled and done in the appropriate place. Work is neat, organized, legible, and follows a logical order. Graphs are all visual, aesthetically pleasing, all the components are labelled and lines were drawn using a ruler. . Works is clear, legible and done in the appropriate place. Graphs were drawn using a ruler and components are labeled. Work is legible and done in the appropriate space. Graphs are somewhat clear and most components labelle d. Line was drawn using a ruler, Work is done in the appropriate space. Graphs are rather unclear and most components have not been labelled. A ruler was not used to draw the line. Work is not done in the appropriate space, graph is unclear, no ruler was used and there is minimal labelling.