The Apprentice Activity

Mathematics appears in everyday situations that we take for granted. for example, our last input we went into detailed on the importance of mathematics in food supplies and logistics. To put it into perspective, we split into pairs and set out a challenge, similar to the apprentice, to accumulate the most profit. 

The first picture is the orders we made/money spent, to sell through the months  April, May and June. We had to consider the events throughout those months to which items would sell best, how long the items shelf life is and the money that we were willing to spend to influence which items we would purchase.

We were then given a percentage of how much stock was sold during those months. from this information, we were able to calculate the quantity sold, the sales generated and the units of stock remaining.

With these calculations, we were able to work out the profit we have made, we then rolled over our remainig stock and bought more items for the months; July, August and September. Here, we had to think more about purchasing summer items to generate a profit.   For this Process it was also important to consider which items have a higher profit percentage; in other words buy stock that is cheap that we could sell for a lot more money. This is essential for business developers in order to generate the greatest profit. 

 

We did this again for months of October, November and December.

 

 

And, finally we completed the year, by repeating the process for January, February and March.

This was a great example, to show the importance of mathematics in the wider society and how possessing a profound understanding of fundamental mathematics can be essential.

 

 

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *