MATHEMATICS STANDARD 2 – Algebraic Modelling for Profit Assignment
Purpose: This assessment has been designed with the purpose for you to explore the relevant and associated costs with hosting an event for profit and in this case the profit will be donated to a charity of your choice, e.g. NSWRFS, Salvation Army, Red Cross etc.
Background: For this task you will be planning your 18th birthday party at a venue of your choice. Your fundraising goal for your chosen charity will be $1000 which you will be donating regardless of how your event turns out. You will be requesting that guests pay for their entry to your event and notifying them that all funds raised cover the cost of the event and a donation to your chosen organisation.
You will be researching event venues and the associated costs such as catering, finding the break-even point and the profit zone, as well as show your calculations using a range of mathematical tools and technology.
Guests will be required to pay for their attendance on the evening but you will assume that all you invite will attend for questions 1-3.
Any party requires a guest list so before you find your location write a list of guests you would like to attend.
Research a charitable organisation and include a link to their website.
Research venues to find an appropriate venue to host your event. Suggested websites are www.ivvy.com.au or a google search “18th birthday party venues Newcastle”
In this section you must include the following:
- Websitelink to your chosen venue
- Screenshotof your venues’ website
- Screenshot of the venues’ facilities that you will be using (i.e. the room you chose)including the price per head for each guest with the price shown for
- Justification – At least a paragraph outlining why you chose your charity includingat least three reasons why you support their cause. You will also need a second paragraph giving two reasons you chose your venue as well as give a mathematical explanation for your venue being the most appropriate choice for your
Show the total cost of hosting the event at your chosen venue with your guest list as reference.
Show the revenue from hosting your event including the total amount you will donate to your charity.
To show the relationship between the total cost of your event and the revenue raised, write an equation for each calculation in Question 2.
Note: Your equations must be written in form y = mx + c
For both equations set up a table of values using a range of values for x axis that demonstrate a good spread of costs.
Using an appropriate graphic tool and an appropriate scale, graph the two equations on the same Cartesian plane.
Discuss the break-even point for hosting this event and what this means for you and your charity. You should write at least one paragraph discussing the costs and your ability to donate at the break-even point.
- Discuss what effect less people attending than planned will have on your fundraising Keep in mind that you will be donating $1000 to your charity no matter how many people attend your party. Show some calculations to validate your
discussion. i.e. Factor in that approximately 15% of your guest list may not RSVP or cannot make the event.
- On your graph, identify where the cost of less people attending can be illustrated.This means duplicating your graph and adding further details to demonstrate your Use the figures you have used in part a) to support your diagram.
- Assume all guests invited attend your event but you chose to offer a pay at the dooroption for other friends and family you may have originally forgot to invite. This means that you have more guests attend than your proposed costs. Discuss using calculations what effect this has to your fundraising
- Duplicate your original graph and illustrate where more guests attending thanoriginally proposed can be