•Play the lemonade stand game again using the coding methodology adopted by YOUR TEAM in week 2.
•Look at the pricing for lemons, ice, cups, and sugar.
–Remember that a pitcher will serve 12 cups if there is no ice, and about 20 cups if there are 3 ice cubes per cup.
Then, write a summary to reflect on your experience (250 word minimum).
Address the Following in your Paper:
•Follow the following 5 step process. SHOW YOUR WORK.
–1. Calculate the number of cups/pitcher you can serve. ROUND UP to the nearest whole number.
–2. Calculate the number of lemons, cups of sugar, and cups you’ll need to buy.
–3. Look at the quantity pricing for each item and add up the cost to purchase your supplies.
–4. Look at your costs. For every $1.00 of cost, how much is Cups? Sugar? Lemons? Ice?
–5. Calculate your cost and revenue per cup (revenue should be price per cup). How did changing ingredients/quantity purchases affect your unit costs?
–Put the summary data you want to focus on (i.e., what is your hypothesis regarding which variable affects net revenue) and put this information into a table
•Discuss what your table reveals
•Graph your cost and revenue data in a bar chart.
•Graph your daily net revenue (revenue – cost).
•Discuss/describe what your graphs reveal