Consumer Awareness through Statistics

Consumer Awareness through Statistics - Inthisproject,...

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Consumer Awareness through Statistics In this project, you will learn how to use mathematics to make yourself a more effective and  informed consumer. Since every one of us is a consumer, it is valuable to consider ways that can  help us get the quality we want at a price we can afford. At the end of the project, you should be  able to answer these questions, which relate to becoming a more thoughtful and effective  consumer. 1. Can statistics inform, and improve, the choices made by consumers? 2. Can a consumer obtain merchandise of specialty-store quality at a discount store, and, if  so, will that consumer pay significantly lower prices? 3. What criterion will form the basis for your purchase—economy, prestige, or a  compromise between the two? Please note that the project does not attempt to address  every possible factor that might impact a purchase (for example, type of warranty;  optional, additional components to enhance the initial purchases; or financing  arrangements). By doing calculations of measures of central tendency and making statistical graphs, you will  demonstrate these mathematics competencies: Use two or more graphs (box-and whisker, histograms, scatter plots) to compare data  sets. Determine the effects of changes in the data set on the measures of central tendency. By using a presentation graphics program and producing a Pod cast, you will demonstrate these  technology competencies: Apply digital tools to gather, evaluate, and use information. Use critical thinking skills to plan and conduct research, manage projects, solve  problems, and make informed decisions using appropriate digital tools and resources. In addition, you will gain experience communicating mathematics and demonstrating the validity  of conjectures in a written component of the project. The project involves making purchases to convert a finished basement into a family entertainment  center with areas for games, fitness, audio, and video. You may spend up to fifteen thousand  dollars on the equipment. You will make eight purchases, four of which are prescribed and four of  which require a choice. The prescribed purchases include:  1. An audio system with iPod ®  docking station 2. Blu-ray DVD player 3. Weight bench 4. Pool table
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You may choose one from each of the following pairs to complete your shopping list: 1. iPod ®  nano, iPod ®  classic 2. 42” plasma HDTV, 42” LCD HDTV 3. Stationary cycle 4. Nintendo Wii, Xbox 360 The project will last several days. The expectations for each day are as follows: Day 1: The class will decide upon a purchasing criterion and make purchase decisions. I will 
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  • Summer '13
  • hina
  • Yorkshire Television, consumer awareness, Blu­ray DVD player, iPod® docking station

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