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Models and Presenting Numeric Data

Models and Presenting Numeric Data

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Jeje Oluwole
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15 views

Models and Presenting Numeric Data

Models and Presenting Numeric Data

Uploaded by

Jeje Oluwole
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Lesson 6

Introducing Models and


Presenting Numeric Data
Objectives
At the end of the lesson, the students
should be able to:
 Describe the difference between a
model and a simulation.
 Recall some benefits of using models.
 Identify the terms associated with
modeling and spreadsheets.
 Manipulate spreadsheet software to
create models.
KEY WORDS

Model

Simulation

What if……?
Model: The process of representing a real world
object or phenomenon as a set of mathematical
equations. It means mimicking reality.
Modeling is done by using a series of rules
expressed as mathematical equations that
parallel the real situation.

Simulation: Seeing how the model behaves


under different circumstances by altering the
variables .When you alter the variable (input)
numbers in the model to see what happens, you
are said to be performing a simulation.
Simulation is interaction with the model.
Benefits of using a spreadsheet to create a
model
Benefits of using spreadsheet software to create models are:
 Speed: Results are produced instantly for complex
calculations.
 Accuracy: There is high accuracy in results produced in
modeling.
 Automatic calculations: Change in a particular cell that
contains data will automatically change the values of cells
linked to it.
 Ease in changing data: Data can be changed easily.

CLASS WORK/ HOME WORK: Worksheet 8.4.1 (Page 160), Worksheet 8.4.2
(Page 162) & QUESTIONS (Page 163)
LESSON 7
TURNING THE OUTPUT INTO THE
INPUT – USING GOAL SEEK
Objectives
At the end of the lesson, the students should be
able to:
 Describe the meaning of a goal seek.
 Describe the term ‘target value’.
 Use goal seek in a spreadsheet.
KEY WORDS
 Goal Seek:

 Target Value:
GOAL SEEK AND TARGET VALUE
Goal Seek: Allows you to achieve the figure
required by altering another figure.
In spreadsheet, goal seek allows you to set what
you want the output to be and it then
automatically varies one of the inputs until it gets
as near as the output as it can. It then tells you
the best input value and how near to the target
value it got.

Target Value: This is the value you would like the


output to be.
Note
 Usually, in models, input values are being
processed to get the output.

Input Process Output

Going through the


Apply the three
Enter rules (i.e. stages in the usual
Results
variables perform
calculations) direction.

 We can go through the output also to get the


input.
OUTPUT TO INPUT
It is possible to get input from an output. You start
with the output or results you would like (called the
target value) and then find the input you could
have to get the required result.

Output Process Input


Starting from the
output value
and determining
Value of one the input value.
Apply the
Desired of the
rules (i.e.
result (target variables to
perform
value) give the
calculations)
result.

ACTIVITY 2 & 3 (Page 166) Worksheet 8.4.3 (Page 170)


Lesson 8
CREATING MODELS TO DETERMINE
THE BREAK-EVEN POINT
OBJECTIVES
At the end of the lesson, the students should be able to:
 Identify the difference between fixed and variable costs.
 Produce a printout on a single page.
 Produce a printout showing the gridlines.
 Describe the concept of break even.
 Create a worksheet to find the break-even point.
 Find the break-even point using trial and improvement.
KEY WORD
Break even

Variable Cost

Fixed Cost
Break even point
Break even: When the money coming into and going out of the business
are the same.

When a new business starts, money will be spent on different things


(like rent, equipment, salary, lighting, etc.) before the business starts to
make money. When the business starts to sell things, money will be
coming in. The point at which the money coming in is EQUAL to the
money going out is called BREAK-EVEN POINT.
(Profit=Loss) at break-even point.
 Relative Cell Referencing: When a cell is used in a formula and the formula
is copied to a new address, the cell address changes to take account of the
formula’s new position.
 Absolute Cell Referencing: In this type of reference, a particular cell is used
in a formula, and when this formula is copied to a new address, the cell address
does not change.
In simple words, the break-even point can be defined as a point where total
costs (expenses) and total sales (revenue) are equal. Break-even point can be
described as a point where there is no net profit or loss. The firm just “breaks
even.”
COSTS
There are two types of costs:
Fixed Costs: These are costs that do not change irrespective of the number of sales made.

Variable Costs: These are the costs that go up or down depending on the number of sales
made.

Therefore,
TOTAL COSTS=Fixed Costs + Variable Cost.

To produce the model to find the Break-even point.


ACTIVITIES 4-6 (Page173)

 Worksheet 8.4.4 (Page 178)


 Using the Model
 CLASS WORK
 ACTIVITY 6. (Page 177) ACTIVITY 7
 (Page 180) ACTIVITY 8 (Page 182)

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