"Math Meets Marketplace: Demand Function Fun!"

High School Grade Lesson 50 minutes

"Math Meets Marketplace: Demand Function Fun!"

jorge

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Purpose

In this lesson, students will explore how algebraic concepts can be applied to real-world scenarios by analyzing sales data to develop linear demand functions. They will gain insights into the relationship between price and demand, enhancing their understanding of consumer behavior. By engaging with actual or simulated data, students will connect mathematical theory to practical decision-making processes, preparing them for future academic and career challenges.

Learning goals

Students will develop a linear demand function using real-life sales data, enhancing their understanding of algebraic concepts in practical contexts. They will analyze how price variations influence demand, applying mathematical reasoning to predict consumer behavior. Through creating and presenting their models, students will strengthen their skills in data interpretation, graphing, and communication, connecting mathematical theory to real-world applications.

Standards

Common Core - CCSS.MATH.CONTENT.HSF.LE.A.1: Distinguish between situations that can be modeled with linear functions and with exponential functions.
Common Core - CCSS.MATH.CONTENT.HSF.IF.B.4: For a function that models a relationship between two quantities, interpret key features of graphs and tables in terms of the quantities, and sketch graphs showing key features given a verbal description of the relationship.
Common Core - CCSS.MATH.CONTENT.HSF.BF.A.1: Write a function that describes a relationship between two quantities.

Plan

Week 1	Day 1
Activities	Begin the lesson by discussing the essential question: 'How can we use linear functions to model the relationship between price and demand in real life, and why does this relationship matter?' Engage students in a brief discussion on the importance of understanding this concept for decision-making in everyday life. Introduce the idea of a demand function and its components using examples that relate to students' everyday experiences. (10 minutes) Students will gather real-world sales data from school merchandise sales or use simulated data if real data is unavailable. Working in small groups, they will identify variables and construct a basic table of values. Guide them to plot this data on a graph to visualize the relationship between price and demand. Ensure students understand how to interpret these graphs and tables in terms of real-world quantities. (15 minutes) In their groups, students will use the data plotted to develop a linear demand function. Guide them through the process of finding the slope and y-intercept, ensuring they understand the significance of these parameters in the context of price and demand. Encourage students to discuss how changes in price might affect demand using their function and any assumptions they are making. (10 minutes) Conclude the lesson with a reflection session. Ask students to reflect on what they learned about the connection between math and real-life decision-making. Pose questions like 'How could understanding demand and price help you in your life or future career?' Facilitate a class discussion where students share insights and consider various applications of demand functions beyond the classroom context. (10 minutes) Briefly introduce the concept of involving community partners by discussing how students could analyze actual sales data from school merchandise. Highlight how applying their demand function models to real data can provide valuable insights into business strategies and decision-making, reinforcing the relevance of their mathematical work in real-world contexts. (5 minutes)
Deliverables
Preparation