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ICLE Standards:
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Math: Problem Solving - Apply the process of
mathematical modeling to real-world problem situations.
Statistics - Collect, analyze, and
interpret data.
Communication - Express math ideas
in writing.
Entrepreneurship: Identify components of owning a business.
SCANS:
Identifies, organizes, plans, and allocates resources.
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Performance Task:
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You are opening a business relating to your
vocational program. This business may either be retail or service oriented.
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Name your business.
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Determine what product(s) or
service(s) you will market from the outset.
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Determine start up costs
needed. Some factors to consider
include: number of employees, salary and benefits offered to them, rental
space of a building, initial advertising, and initial stocking of
merchandise.
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Determine the normal
operating costs for a single month.
Consider ALL factors!
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Assuming you are granted a 12
month loan at 9.75% interest on the start up costs, determine how much money
you will need to earn per month to repay all debts and be able to see a
profit at the end of that year.
All data amounts MUST be organized in table format. You will probably need an organized
table for each step indicated above in a spreadsheet. Importing a spreadsheet into word
processing document is a nice touch but not mandatory. Writing and mathematics are both
required elements for this task.
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Knowledge / Skills:
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Perform operations with signed (positive and
negative) numbers, including decimals, ratios, percents, and
fractions. M.1
Understand the best procedures for statistical
data collection, organization, and display. M.5
Understand the concepts recurrence relations and
how they are applicable to such things as compound interest and
annuity. M.61
Understand the nature and purpose of and be able
to word process a variety of formats including essays, business letters,
memos, instructions, policy statements, technical proposals, user manuals,
lab reports, etc. ELA.30
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Rubric:
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4
POINTS: The student is able to
complete the task independently. He/she calculates the payment and profits.
He/she considers all factors in owning a business. He/she organizes the information into a
usable table using technology.
3 POINTS: The student needs
coaching to set goals. He/she
considers most factors in owning a business. He/she calculates the payment
and profits with minimal errors.
He/she is fairly organized using technology.
2 POINTS: The student needs
coaching throughout the entire task in order to complete. He/she considers some factors in owning
a business. He/she demonstrates
limited understanding of calculating loans and profits. The student's work is not well
organized, and contains one major error.
Technology is not used accurately.
1 POINT: The student is unable to
complete task. The student only
considers a few factors in owning a business. He/she demonstrates minimal understanding of calculating
loans and profits. His/her work is
sloppily done, poorly organized and contains several errors. No technology is used
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