Decide what price you will charge consumers to purchase the item and generate a linear revenue function.

Cost, revenue, and profit are important topics in this class. This project will allow you to look into an area which you are interested. For this project, you will do several things. The following is a list of everything that must be included to obtain credit.

Project Directions:

Choose a category.
goods (something that can be taken home such as clothing, furniture, watch, phone, computer, car, etc.)
service (something that others are paid to do such as landscaping, eating out, getting a haircut, etc.)
travel (something that is generally done while on trips such as plane tickets, hotel stay, car rentals, etc.)
representation (something that requires others to make decisions such as sports and entertainment agents, CEO’s, etc.)
coordination (something that needs to be coordinated for others such as weddings, entertainment and sports events, concerts, etc.)
other (something that does not fit into any of the above catergories such as biological and social science concepts)
Pick an “item” from your category. Please ask me if you are uncertain what category your “item” falls under. If you believe you will need another category, please confer with me in advance.
Research what is needed to sell your item, and list your sources.
Your sources may include the internet, library, or business that sell the item you have picked for this project.
You will be required to provide a work cited page. The format of how you cite your sources is not important, but I should be able to check your sources with the information you provide.
List all fixed cost including dollar amounts for each.
List all variable cost including the dollar amounts for each.
Generate a linear cost function based on your findings.
You get to decide how you generate your linear function, but you must be able to explain your reasoning, which should be a minimum of 4 sentences (no maximum).
Decide what price you will charge consumers to purchase the item and generate a linear revenue function.
You get to decide how you generate your linear function, but you must be able to explain your reasoning, which should be a minimum of 2 sentences (no maximum).
Using your cost and revenue functions, generate a profit function.
Find the break-even point, and analyze your findings.
Is the break-even point reasonable? Revise the cost/revenue function.
If the break-even point seems reasonable, explain why the break-even point is reasonable. This should be a minimum of 4 sentences (no maximum).
If the break-even point does not seem reasonable, revise the cost function and/or the revenue function. Continue this process until the break-even point seems reasonable. Then explain why the break-even point is reasonable. This should be a minimum of 4 sentences (no maximum).

Project Requirements:
Type all information listed above in a report-like manner in a 12 point font EXCEPT the calculations, double spaced, and use normal margins.
category and item
sources
listing of fixed and variable cost including dollar amounts
cost function and reasoning
revenue function and reasoning
profit function
break-even point and analysis
Tables and graphs should typed or embedded in a type document as screenshots. Desmos is a helpful website for screenshots.
Write the calculations on a separate piece of paper neatly, and include in the report.

Project Rubric:
Mathematical calculations are correct and include all steps. This inclused notation as well. 40%
Reasoning includes language covered in class and logicallly leads to the end result. 40%
Project formatting was followed. 20%

Last Completed Projects

topic title academic level Writer delivered