Modelling profit and loss with linear and quadratic functions
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Introduction
This set of resources provides opportunities for students to explore linear and quadratic functions and how they can be applied to real-world business situations involving profit and loss. They use linear functions to describe or approximate relationships in the real world and interpret real-world descriptions of business situations to make equations, solve problems and provide business advice.
Achievement standard
By the end of Year 9, students recognise and use rational and irrational numbers to solve problems. They extend and apply the exponent laws with positive integers to variables. Students expand binomial products and factorise monic quadratic expressions. They find the distance between 2 points on the Cartesian plane, and the gradient and midpoint of a line segment. Students use mathematical modelling to solve problems involving change in financial and other applied contexts, choosing to use linear and quadratic functions. They graph quadratic functions and solve monic quadratic equations with integer roots algebraically. Students describe the effects of variation of parameters on functions and relations, using digital tools, and make connections between their graphical and algebraic representations.
They apply formulas to solve problems involving the surface area and volume of right prisms and cylinders. Students solve problems involving ratio, similarity and scale in two-dimensional situations. They determine percentage errors in measurements. Students apply Pythagoras’ theorem and use trigonometric ratios to solve problems involving right-angled triangles. They use mathematical modelling to solve practical problems involving direct proportion, ratio and scale, evaluating the model and communicating their methods and findings. Students express small and large numbers in scientific notation. They apply the enlargement transformation to images of shapes and objects, and interpret results. Students design, use and test algorithms based on geometric constructions or theorems.
They compare and analyse the distributions of multiple numerical data sets, choose representations, describe features of these data sets using summary statistics and the shape of distributions, and consider the effect of outliers. Students explain how sampling techniques and representation can be used to support or question conclusions or to promote a point of view. They determine sets of outcomes for compound events and represent these in various ways. Students assign probabilities to the outcomes of compound events. They design and conduct experiments or simulations for combined events using digital tools.
Content descriptions
Simplify algebraic expressions, expand binomial products and factorise monic quadratic expressions. (AC9M9A02)
Identify and graph quadratic functions, solve quadratic equations graphically and numerically, and solve monic quadratic equations with integer roots algebraically, using graphing software and digital tools as appropriate. (AC9M9A04)
Use mathematical modelling to solve applied problems involving change including financial contexts; formulate problems, choosing to use either linear or quadratic functions; interpret solutions in terms of the situation; evaluate the model and report methods and findings. (AC9M9A05)
Teacher resources
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Linear functions for business
Introduction to quadratic functions
Applying quadratics to business
Student learning resources
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Linear functions for business
Quadratic functions
Applying linear and quadratic functions
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group.
Part A: Linear functions
- Use the linear functions visualiser to explicitly teach students about different linear functions that can be applied to business situations.
- Students complete the linear functions worksheet.
Part B: Introduction to quadratic functions
This part is optional and will depend on students’ prior knowledge and understanding.
- Elicit students’ understanding of quadratic functions by asking several questions. Use the quadratic functions worksheet as a guide or give them the worksheet to complete.
- If needed, display and explain the introduction to quadratic functions visualiser.
- Students complete the quadratic functions worksheet (you may ask them to complete this even if they were given it previously).
Part C: Applying quadratic functions to business situations
- Display and explain the applying quadratics to business visualiser.
- Give students a few practice questions on solving quadratic equations. For example:
Solve the following quadratic equation by factoring and by graphing. Are your answers the same?
x2 + 6x +5 = 0
Solve the following quadratic equations. For each solution explain what method you used and why.
i. x2 - 4x + 4 = 0
ii. 2x2 + 12x + 50 = 0
iii. 2x2 - 5x + 7 = 0
- Students complete the investigation. Students may benefit from working individually and/or in small discussion groups.