Q9 Lucrative Lemonade
Attribution: Link to sweetclipart.com
Dig the Data - Lucrative Lemonade
In this Quest, your data collection will come from your work at the Lucrative Lemonade Stand. Depending on the weather and customer preferences, the company will either gain or lose money. The owner of the company has contacted your teacher and requested a student to investigate the operations. You will have 14 days at the company to try to make as much profit as possible. Be careful because you can lose everything. You must record all of your data and conditions in a spreadsheet and analyze the data over the 14 days of work. Your teacher will be watching for your report at the end of this activity.
This Quest is provided as a download: 13.Q9 lucrative lemonade.pdf
1. Get a data collection sheet from your teacher and something to write with or you may work directly on the Excel spreadsheet provided. The columns that are white should be filled-in each round before you start selling lemonade. Then the green columns will be filled-in after you sell the day’s lemonade.
Link to Excel Lucrative lemonade data collection sheet
2. Go to the Lemonade Stand website .
You will be doing a 14 day simulation. (*Your computer will need the java plugin installed. You may have to click on a link to allow it to run. If it doesn’t work please inform your teacher.)
Hint: On the bottom right is a Fast Forward button. This will make your days go by quicker. We recommend that you use this function so you can finish all 14 days before the end of class.
Steps 2-9: Goal, recipe, and run the simulator
3. Notice you start with $20. Your goal is to make more money than you started with. However, in order to make money, you’ll have to spend some money.
In this game, you’ll decide how many lemons, cups of sugar, and ice cubes to use per cup of lemonade. Also, you’ll have to buy the right amounts of each, plus cups. Don’t forget, though, your ice will always melt by the end of the day, bugs can get in your sugar, and lemons will spoil.
So, now buy all of your supplies in what you predict to be the “right” amount for the day.
4. Next, on your information sheet, write down the temperature and the weather forecast. This will be important when deciding how to mix your lemonade for the day.
5. Now it’s time to set up your recipe.
___ Lemons per Pitcher
___ Cups of Sugar per Pitcher
___ Ice cubes per cup
Set your preferences, and then write them down on your information sheet.
6. On the next screen, choose how much to charge for each cup of lemonade. You need to make enough money per cup to cover your expenses, but don’t make it so expensive that people won’t buy it. (Hint…you can add up what you spent on your spreadsheet for the day to help decide how much to charge.) Also, do not change your price during the day as it will not show in your data.
7. Now, run the simulator. Customers will come up to your table and buy your lemonade or give you feedback. A dollar sign above their heads means they think it’s too expensive. See if you can figure out their other “comments.”
8. At the end of each day, write down on your information sheet how many cups you sold, how many potential customers you had, and how much money you finished the day with.
9. Repeat these steps for days 2-14, buying supplies, mixing your lemonade, and recording your results. Between each day’s sales is where you can make changes to your recipe or price but be sure to record each day on your spreadsheet. When you have completed all 14 days then it is time to analyze the data. If you have been working on a paper collection sheet be sure to input everything into your spreadsheet.
Steps 10-11: Create your graph
10. Highlight the daily balance column and click the insert tab to begin making your line graph that shows the change over 14 days.
11. Customize your graph with a chart title and axis labels. Take a screenshot of your graph and data to put into your report. Remember that your starting amount was $20.00 and your goal was to make a profit.
12. Answer the following questions in a Word Processing or Presentation program:
- How often did you profit? Would you recommend this company to continue sales or shut down its business according to your profit?
- Did you go bankrupt and have to start over? What happened? What would the line graph look like for a bankruptcy?
- How often did you change your recipe? Describe how and why you changed it.
- What was the average price you charged for your lemonade? (Do not forget about functions in your Excel program.)
- Describe your overall sales trend over the 14 days. Was it mostly increasing, decreasing or a constant change daily?
Completing this Quest
To complete this Quest, you must insert a screenshot of your spreadsheet and graph in your report, and answer the five questions. Then save your report and spreadsheet in your File Space and present the information to the teacher.
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