Apply mathematical formulas to everyday business transactions.
Minimum Submission Requirements: All questions must be answered and the submission must be successfully uploaded to the Dropbox. If work submitted for this competency assessment does not meet the minimum submission requirements, it will be returned without being scored.
This module focuses on equations and how to solve them. In this module, you learned that equations and formulas are used in many business math applications. Being able to solve equations and evaluate formulas is extremely important and will enable you to solve many problems in business such as solving proportion problems, solving cost-volume problems, and recommending actions using cost analysis. In this Assessment, you will write an equation and apply it to a business setting.
For this Assessment, you will write a one-page, four-paragraph essay explaining an equation you will develop. Your essay must be carefully planned and written using well-constructed sentences and paragraphs. Make sure that your grammar and spelling are correct. Points will be awarded for content as well as composition. Your essay must be a minimum of one page in length with standard 1-inch margins and is required to have at least one reference from a reliable source. This means that you cannot use sites like Wikipedia, Ask.com, and Yahoo answers and that only references from reliable sources will earn points. All resources should be cited both as an in-text citation as well as being listed on a reference page in APA format.
This Assessment must be submitted as a Microsoft Word document.
Equations are around us in everyday life. For example, if you have $45 at a baseball game and you go to the concession stand for hot dogs and hamburgers, and hot dogs are $4 each and hamburgers are $6 each, how many of each can you purchase? There isnt just one answer.
Your Assignment is to create your own equation in a business setting. Present the equation in an essay type format.
In the first paragraph, introduce your equation, tell what your variables represent, and tell what the equation represents.
In the second paragraph, present two solutions to your equation.
In the third paragraph, discuss how and when equations are used in business transactions and give at least two examples.
In the final paragraph, state your conclusions.
Your essay should be complete and cover each point as outlined above. Be sure to include at least one text citation.