Name:______________________ Date:__________________

Create Your Own Business

You are the CEO of a __________________ company. For the winter season, you have 7 new
special items to design and sell. Create these items, give them the price depending on the cost
of materials, labor, and advertisement. Complete the chart below:

Picture of an Item Cost of Cost of Labor (to Cost of materials

Advertisement make the item)

1.

2.

3.

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Name:______________________ Date:__________________

4.

5.

6.

7.

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Name:______________________ Date:__________________

Total Cost of Total Cost of Total Cost of Total Retail Cost Total Profit
Materials labours Advertisement

Rationale for Selling Price:

Questions

1. Figure out the percentage of the profeit you are making per item.

Selling Price per Item Your Profit Percentage of your profit

2.You want to do a promotional discount of 15% off per new item. What is your profit per item
when you apply the discount?

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Name:______________________ Date:__________________

Selling Price per Item After 15% Discount Your Profit After the Discount

3. Since you are selling your Items in a heartbeat, you are thinking of increasing the price.
Increase the price of your items by suggested percentages.

Selling Price per Item After the increase of the Your Profit After the Increase
percentage

+25%

+33%

+14%

+27%

+42%

+18%

+36%

What is your expected profit?

Approximately how many items do you need to sell to achieve your goal?

Mean and Mode

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Name:______________________ Date:__________________

1. What is the Mode of the Item that you are selling?

2. What is the Mean of the Item that you are selling?

3. Make a bar graph of the selling price and expenses for making the 7 items. Compare the bars
and describe what you observe.

Price vs Profit of New Items

4. Make the bar graph into a scatter plot

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Name:______________________ Date:__________________