A parent is looking for the best option for daycare for a child. A home-based option charges a flat rate per hour. A center-based option charges a fixed fee per week for a certain number of hours and then a fixed rate per hour for any hour provided over the set amount. Determine which option is most advantageous for the parent based upon the parents’ needs.
A. Develop a story problem using the real-world scenario you have selected from the four provided above by doing the following:
1. Develop a cost comparison problem that can be solved according to the task instructions that follow by supplementing your chosen scenario with additional information.
2. Explain all needs (e.g., financial, non-financial, situational) of the hypothetical consumer.
3. Discuss two cost options that are being considered.
B. Analyze the cost of each option algebraically by doing the following:
1. Develop an algebraic equation(s) with clearly defined variables to represent the cost of each option.
Note: In some circumstances, a single cost option may require two equations.
2. Explain the reasoning process used to translate the written description of each cost option into algebraic equations.
3. Solve the system of equations algebraically to determine where the two cost options are equivalent, showing all work.
a. Explain each step used to solve the system of equations. Include the following in your explanation:
All mathematical operations used to solve the system of equations
The solution(s) of the system of equations in ordered-pair notation
C. Depict the real-world problem on a single graph, within a spreadsheet application using integrated graphing tools (e.g., Microsoft Excel, OpenOffice Calc, LibreOffice Calc).
Include the following details in your graphical representation of the real-world problem:
Label each axis of the coordinate plane with descriptive labels.
Label all graphical solution(s) of the system of equations as “solution” and include the ordered pair.
In a legend, indicate which cost option corresponds with each line.
Save and submit your spreadsheet as an *.xls, *.xlsx, or *.ods file.
D. Discuss a decision-making process that is based on both mathematical reasoning and non-financial, or situational, considerations. Your discussion should include the following:
How financial information gleaned from your algebraic and graphical analyses can be used to determine the conditions for choosing cost option A over cost option B and vice versa
How non-financial, or situational, considerations can impact the decision-making process
1. Discuss a final recommendation that states the option that most closely meets the consumer’s financial needs and non-financial considerations.
E. When you use sources, include all in-text citations and references in APA format.
IE y=10x+100 etc etc