ICT at key stage 3 (Year 8)
Unit 12: Systems - integrating applications to find solutions
Section 2: Activity 2
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Objectives |
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- to identify the rules governing the model that will determine the profit or loss of the event
- to construct the financial model for the event using spreadsheet software
- to use the model to prepare a budget for the event
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Activities |
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Outcomes |
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Children: |
- Using homework, discuss with the class definitions of mathematical models that will allow both predictive and real data for evaluation. Ask the pupils to work in groups to identify all the contributory costs,
eg insurance, caretaker overtime, publicity, printing and other expenses, and income,
eg tickets, sponsorship.
- Agree a common overall layout for the spreadsheet. Review with the class spreadsheet rules and formulae as they apply to the model for the event. Ask pupils to then build the spreadsheet.
- Pupils should test the spreadsheet works correctly by using appropriate test data.
- Once the spreadsheet is complete, ask pupils to test a number of hypotheses/scenarios to evaluate the model,
eg break-even point on ticket sales.
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- identify rules governing a model
- enter formulae and parameters into a spreadsheet
- use a spreadsheet model
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Points to note |
- Ensure that realistic costs are researched prior to the spreadsheet activity for the chosen event, and that if the event planned is actually to take place then all arrangements are made with clearance from the relevant authorities.
- The aim is to make the largest possible profit, and the income will depend on the nature of the event, such as entry charges or sponsorship rate,
eg ticket price and the numbers sold (information that is used to predict profit) and the number of tickets required as well as real data entered after the event to show profit.
- Extension activity: more able pupils might be introduced to absolute cell references for fixed data,
eg number of people allowed into the venue, percentage profit margin.
- Homework could be a report on the financial model.
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This unit is divided into sections. Each section contains a sequence of
activities with related objectives and outcomes. You can view this unit by
moving through the sections or print/download the whole unit.
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