Unpacked Content
Knowledge
Students know:
- how to approach and solve real-world financial problems using mathematical models.
Skills
Students are able to:
- Read a real-world financial problem and distinguish between relevant and non-relevant information.
- Create and apply a mathematical model to solve a real-world financial problem.
- Analyze their work and their findings.
- note restrictions or limits that arise when using a mathematical model.
- Share their findings with others.
- Apply their work to similar situations.
Understanding
Students understand that:
- Real-world financial problems can be solved using a mathematical model.
- There is a defined process to follow to create a mathematical model for financial problem solving.
- Mathematical models sometimes have limitations or need to be restricted in order to produce valid answers.
Vocabulary
- Mathematical Modeling Cycle
- Mathematical Model
