MA19.MM.2

Mathematics (2019) Grade(s): 09-12 - Mathematical Modeling

MA19.MM.2

Use elements of the Mathematical Modeling Cycle to solve real-world problems involving finances.

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
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