*Project: Making School Event Budget using Mathematical Concepts* *1. Problem Identification (5 marks)* 1.1 *Description*: The school is planning a major event, and the organizers need to create a budget that accurately accounts for all expenses and revenues. However, they lack a systematic approach to budgeting, which may lead to financial mismanagement. 1.2 *Brief Statement of Intent*: The intent of this project is to apply mathematical concepts to create a comprehensive and realistic budget for the school event. 1.3 *Main Idea or Topic*: Using mathematical concepts to create a school event budget. 1.4 *Design Specification*: * The budget should account for all expenses, including venue rental, catering, decorations, and entertainment. * The budget should also account for all revenues, including ticket sales, sponsorships, and donations. *2. Investigations of Related Ideas (5 marks)* 2.1 *Investigations*: * *Investigation 1*: Research on budgeting techniques and mathematical concepts, such as ratios and proportions, that can be applied to event budgeting. + Merit: Provides a solid foundation for creating a comprehensive budget. + Demerit: May not account for unexpected expenses or revenues. * *Investigation 2*: Analysis of past school events and their budgets to identify areas for improvement. + Merit: Provides valuable insights into what works and what doesn't in event budgeting. + Demerit: May not be applicable to the current event due to changes in circumstances. *3. Generation of Ideas (10 marks)* 3.1 *Possible Solutions*: * *Solution 1*: Create a detailed budget spreadsheet using mathematical concepts, such as formulas and functions, to calculate expenses and revenues. + Merit: Provides a clear and transparent picture of the budget. + Demerit: May be time-consuming to set up and maintain. * *Solution 2*: Use a budgeting app or software that incorporates mathematical concepts to track expenses and revenues. + Merit: Provides a convenient and efficient way to manage the budget. + Demerit: May require training and support to use effectively. *4. Selection of Choice and Refinement (6 marks)* 4.1 *Indication of Choice*: Solution 1: Create a detailed budget spreadsheet. 4.2 *Justification*: * Provides a clear and transparent picture of the budget. * Allows for easy tracking and adjustment of expenses and revenues. 4.3 *Refinements*: * *Refinement 1*: Use formulas and functions to automate calculations and reduce errors. * *Refinement 2*: Create a contingency fund to account for unexpected expenses or revenues. * *Refinement 3*: Regularly review and update the budget to ensure it remains accurate and relevant. 4.4 *Presentation*: A presentation will be made to the school event organizers and stakeholders to showcase the budget and its benefits. *5. Presentation of the Final Solution (10 marks)* 5.1 *Working Drawing*: A sample budget spreadsheet will be created, demonstrating the use of mathematical concepts to calculate expenses and revenues. 5.2 *Artefacts*: The budget spreadsheet will be presented, showcasing: * Quality: Accurate and well-organized. * Functionality: Easy to use and understand. * Fits and sizes: Suitable for the school event. * Stability: Regularly reviewed and updated. * Relevance: Meets the needs of the school event organizers. * Relevant tools: Uses relevant mathematical concepts and formulas. * Finish: Well-formatted and easy to read. * Symmetry: Balanced and logical structure. *6. Evaluation (5 marks)* 6.1 *Relevance to Brief*: The budget spreadsheet addresses the need for a comprehensive and realistic budget for the school event. 6.2 *Problems Encountered*: One problem encountered was the challenge of accurately estimating expenses and revenues. 6.3 *Solution Suggested*: The solution was to create a contingency fund to account for unexpected expenses or revenues. 6.4 *Recommendations*: The budget spreadsheet should be regularly reviewed and updated to ensure it remains accurate and relevant. Additionally, the school event organizers should consider using mathematical concepts to analyze and adjust the budget as needed.