Problem Solving and Modeling - Consumer Arithmetic - Personal Budget - Mathematics Assignment Help

Assignment Task:

Problem-solving and modeling task 
This sample has been compiled by the QCAA to assist and support teachers in planning and developing assessment instruments for individual school settings. 
Schools develop internal assessments for each senior subject, based on the learning described in Units 1 and 2 of the subject syllabus. Each unit objective must be assessed at least once. 
Assessment objectives 
This assessment instrument is used to determine student achievement in the following objectives: 
1. select, recall and use facts, rules, definitions, and procedures drawn from Unit 1 Topic 1: 
Consumer arithmetic 
2. comprehend mathematical concepts and techniques drawn from Unit 1 Topic 1:

Consumer arithmetic 
3. communicate using mathematical, statistical and everyday language and conventions 
4. evaluate the reasonableness of solutions 
5. justify procedures and decisions by explaining mathematical reasoning 
6. solve problems by applying mathematical concepts and techniques drawn from Unit 1 

Topic 1: Consumer arithmetic. 
Task Produce a personal budget that commences at the start of your studies, it needs to include living costs and any savings you might be able to make. You are planning to save enough for a 5 - 10-day overseas holiday at the end of your first year at university. This will be your first trip overseas and you would like to fit in some tours, budget permitting. 
Research expenses for your holiday and compiles a detailed budget for it. 
As a cost-saving approach, investigate how your budget might alter if you have a friend accompanying you on your trip.

Scaffolding 
The approach to problem-solving and modeling must be used 
In this task you will investigate the financial requirements of living out of home, studying, budgeting and planning for an overseas holiday. 
Your report should consider: 
• Your part-time job Stage 1: Formulate 
• Government allowances 
• A personal budget 
• Cost of travel 
• Exchange rates 
Identify the mathematical procedures to solve the problem. State any necessary assumptions and variables. 
Stage 2: Solve 
Explain the necessary assumptions, variables, and observations required to design your budget. 
This will require you to create a savings budget based on: 
• Income from a part-time job 
• Government allowance 
• Spreadsheet to include weekly/annual living expenses and projected savings 
• Itinerary and budget for your holiday 
Stage 3: Evaluate and verify 
Consider the strengths and limitations of your budget and evaluate the reasonableness of your solution. Make any necessary changes to your original savings plan or itinerary as required. 
Justify and explain all the decisions you have made. 
Stage 4: Communicate 
Communicate your results using mathematical and everyday language by: 
• Drawing conclusions 
• Discussing key results 
• Discussing the strengths and limitations of the solution 
• Ensure you have a report with an introduction, body, and conclusion which answers the problem posed. 
 

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