“Carrie and Fred’s Report”

| June 6, 2016

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Because Drip & Dry was always a self-service laundromat, Fred and Carrie have never run a pick-up laundry service. They want to balance revenues and expenses to ensure that they are making decisions that are good for business and for their customers. They are considering a price per machine model, charging $12.00 per machine needed to wash a customer’s clothing, as determined by the weight of the clothes. They gathered some helpful resources on the costs of laundry and the types of math they used to calculate these costs. They then created a short, analytic report on the revenues and expenses associated with charging based on a per-machine model. However, Fred and Carrie are unsure if their math is correct and if they used the right values from the resources they gathered.

Read the “Carrie and Fred’s Report” resource and write a short, one-page analysis explaining:

  1. What information is conveyed in each section, as well as the methods used to present that information (2-3 sentences on each section)
  2. A short paragraph on the different methods for presenting information and why each is used (formula, table, graph, paragraph, etc.)
  3. If their math is correct, including the values used (based on the resources)
  4. If not, fill in the correct values and calculations and explain what you did and why
  5. Include estimated outputs for your corrected formulas to test if they are reasonable
  6. Show your work for all steps. Do make use of calculators and helpful programs (Google Sheets, Excel, Wolfram Alpha, etc.) for complex calculations

Sources and documents necessary for completion;

http://cfaresources.s3.amazonaws.com/BA%20Communications/7%3A%20Market%20a%20Product%20or%20Service/Business%20Overview.pdf (Familiarize yourself with Drip & Dry’s current business model.)

http://cfaresources.s3.amazonaws.com/Cross%20Degree/14%3A%20Use%20Math%20to%20Solve%20Problems/PricePerMachineReport.pdf (Fred and Carrie ran a report on a price per machine model, but they are not confident that their calculations are correct.)

http://www.thesimpledollar.com/a-cost-comparison-of-home-laundry-and-laundromats/ (Determine if Fred and Carrie are using a reasonable value for the cost of laundry in their formulas.)

http://www.dexter.com/on-premise-laundry/on-premise-washers/t-300/ (Look at the specifications of the machines that Fred and Carrie plan to buy for the new room. Determine if they are using accurate values in their calculations, including how many pounds of clothing each machine can wash in one load.)

https://www.youtube.com/watch?v=2-dUHLHeyTY (Watch this short video on graphing functions to better interpret Fred and Carrie’s piecewise function graph (“Function Graph of Revenue Per Pound in a Price Per Machine Model”).

https://www.khanacademy.org/math/fr-eleventh-grade-math/geometrie-analytique/droites/v/linear-equations-in-standard-form (Linear equations show the relationship between different variables, such as expenses and revenues. These short videos will explain linear equations and help you to better interpret and check Carrie and Fred’s revenue calculation.)

https://www.khanacademy.org/math/algebra/algebra-functions#piecewise-functions (Review these videos on piecewise functions to help you interprets the graph (“Function Graph of Revenue Per Pound in a Price Per Machine Model”) in Carrie and Fred’s Report.)

http://reference.wolfram.com/language/ref/Piecewise.html (Use this guide to help you understand Carrie and Fred’s piecewise function graph (“Function Graph of Revenue Per Pound in a Price Per Machine Model”) and to create a corrected graph if necessary.)

https://www.wolframalpha.com/ (Wolfram Alpha is a useful tool for numerous mathematical operations. You may use it to plot your piecewise functions.)

http://www.dummies.com/how-to/content/how-to-check-an-answer-to-an-algebra-problem.html (Use this “How to Check an Answer to an Algebra Problem” process to check Fred and Carrie’s math and revise their formulas if necessary.)

https://www.khanacademy.org/math/in-sixth-grade-math/knowing-numbers/new-topic-2015-11-17T22:50:37.680Z/v/multiplying-whole-numbers-and-applications-4 (Before calculating the results for many inputs, it is helpful to estimate a few values using your formula to see if it returns reasonable answers. Familiarize yourself with the process of estimating and use this process to determine the reasonableness of your new formulas.)

http://www2.le.ac.uk/offices/ld/resources/numerical-data/numerical-data (Use this resource as a guide to properly format your analysis.)

 

Criteria to be met:

  1. Any sources of information are cited using APA format, with no major errors
  2. Report analysis demonstrates understanding of graphs through written interpretation
  3. Report analysis demonstrates understanding of formulas through written interpretation
  4. Report analysis demonstrates understanding of tables through written interpretation
  5. Accurate information regarding load capacity from washing machine schematics is used to review and correct calculations
  6. Report analysis accurately identifies and corrects major errors

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