Solving Real World Problems
Every day we are in situations where we need to apply math skills to solve problems. Being proficient with arithmetic and algebra can help you make decisions that could help you save money, maximize your time, and live a more productive life. For this assignment, we will assess your ability to use basic arithmetic and algebra to solve real-world quantitative problems.
Note: This assignment does not require research, but if you choose to use information from a source, be sure to cite it. To help make sure you are properly citing your sources, review the Strayer Writing Standards.
Question 1
Instructions
The real-life scenarios below represent the importance of using basic arithmetic and algebra to solve real-world quantitative problems. Choose two (2) of the given scenarios from the list (do not create your own). Complete each section below to apply your knowledge of this topic to each of your chosen scenarios. For full credit you must have a complete response for all 4 questions below, per scenario. You may need to assume or infer additional information to complete the questions. For example, if you choose the gym scenario, you need to assume how many times you will visit the gym to calculate and compare.
Scenarios (choose two)
A. Saving money at the grocery store by using unit pricing.
a. Toilet paper A is 6 mega rolls for $4.59.
b. Toilet paper B is 12 mega rolls for $9.02.
B. Choosing a gym membership that fits my budget and lifestyle.
a. Gym A has a monthly payment of $50.
b. Gym B has a cost of $10 per visit.
C. Choosing the best bank for a new savings account.
a. Bank A charges a $35 fee if your balance drops below the monthly minimum of $500, but does not charge transaction fees.
b. Bank B has no minimum monthly balance requirement, but only allows two transactions each month and charges $3.50 for each transaction over two.
D. Determining the best job to take based on the pay. when considering a new job.
a. Job A is 40 hours per week and pays $15 per hour (gross pay) with no tips.
b. Job B is 30 hours per week and pays $5 per hour (gross pay) plus tips (which average $350 per week).
E. Determining which vehicle to purchase based on monthly payment.
a. Vehicle A has a final sale price of $25,000 at 5% interest and offers financing up to 60 months.
b. Vehicle B has a final sale price of $29,000 at 4% interest and offers financing up to 72 months.
A. Scenario Choice 1: (enter your chosen scenario here)
Answer the questions below to explain how you would apply arithmetic or algebra to solve this problem. You can assume/infer anything you need to apply the scenario to your life (for example: how many times you would go to the gym each week if you chose that scenario). Enter your answer below each prompt:
1) What information do you have and what information might you still need to solve this problem?
2) What steps would you take to solve this problem? What formulas will you use? (if applicable)
3) Explain how you would calculate the result. You can infer and add any additional details you feel you might need to create the calculation.
4) Explain your result in the context of your original situation/problem.
B. Scenario Choice 2: (enter your chosen scenario here)
