The Business Project
As a review for quadratics from last semester, we were all required to think of a product to have the potential to be sold. It could be anything our imagination could run wild. We had to go through the same process that other "inventors" go through such as finding the Production cost, Optimum price and looking at the projected sales. Also we had to calculate our Break even points, our profits and our revenue. This project was not only to review quadratics but it helped us apply them to the real world and give us a taste of what it would be like to start a start up company/business.
Throughout this project I learned so much about "starting a business" and the whole process. I feel like for a product that is going to be produced multiple times it would be slightly easier, but that could definitely be an incorrect assumption. Before this project I didn't know much about anything of the selling products idea but after this project I can honestly say I have learned a lot more than I previously knew. Not only did I learn the concept but I learned the vocabulary along with it. Before I knew very little about profits and break even prices, and going in debt but now I know more about it then I ever have.
For the business project I created a Three Screen laptop for major multi tasking capability,
This is what it looks like:
As a review for quadratics from last semester, we were all required to think of a product to have the potential to be sold. It could be anything our imagination could run wild. We had to go through the same process that other "inventors" go through such as finding the Production cost, Optimum price and looking at the projected sales. Also we had to calculate our Break even points, our profits and our revenue. This project was not only to review quadratics but it helped us apply them to the real world and give us a taste of what it would be like to start a start up company/business.
Throughout this project I learned so much about "starting a business" and the whole process. I feel like for a product that is going to be produced multiple times it would be slightly easier, but that could definitely be an incorrect assumption. Before this project I didn't know much about anything of the selling products idea but after this project I can honestly say I have learned a lot more than I previously knew. Not only did I learn the concept but I learned the vocabulary along with it. Before I knew very little about profits and break even prices, and going in debt but now I know more about it then I ever have.
For the business project I created a Three Screen laptop for major multi tasking capability,
This is what it looks like:
Along with designing a product we also had to write a letter to our Investors asking for a loan, here is mine:
2/4/15
Dear Venture Capitalists,
“Let me ask you something, Do you ever get tired of flipping back and forth through your open tabs on your computer, while you are trying to work on something? Or how about losing what tab you were on in the first place after one change? Well stop all that nonsense with the Pilot 3, a laptop with three full sized screens. Have your main project open on the main screen and all other relevant tabs open on the other two. No more messy wired monitor! Keep an organized work space with the Pilot 3. The Pilot 3, because you’ll be flying through your projects.”
This product has the ability to trifold out to 3 screens and if the two additional screens are not needed they can stay folded in to be used like a regular laptop. The screens are clear plastic and have a button to switch the back side black and the front side as your screen and when both are pure screens and folded are when it can be used as a regular laptop. Also incase you were wondering the screens fold in on their inner sides. Your mouse cursor can travel across the three screens, no additional accessories needed. Also some people could be worried about the weight of the other 2 screens well worry no more because the laptop comes with stands for these screens just in case, even though weight should not be a problem. Imagine your favorite laptop, now imagine it with 3 times better!
I have surveyed 50 people about whether they would buy this product or not, my age group is from people 14 to 76. 44 of the 50 people surveyed said they would buy a Pilot 3 for my break even price at $600. In case you do not know what break even means, its the price in which I make no profit. So if I sold this laptop for $600 I would make a profit of $0. Now referring back to my profit vs. price graph the scatter plot represents the 50 people surveyed and the quadratic regression is the projection of the target population. This quadratic regression is simply a parabola acting as the line of best fit for my graph. At the vertex of my parabola, vertex being the peak or the top, tells me the optimum price to sell my product, which is $1314 and selling at this price will make me a profit of $15,931. I believe there is a little bit of wiggle room with this price considering my target customers; Tech companies, Engineering companies, design companies and gaming world, but these are not the only customers my product is for sale to. It is also for sale to the general public; a teacher can grade, check emails, and listen to music all at once. A teenage girl can online shop, check social media and watch youtube videos all at the same time. This is also definitely a product that multi taskers will be interested in. With that being said I come to you asking for a loan of $2,400 because $600 is the cost to produce one and I would like to produce 4, one for each set of companies I plan to pitch this idea to so I can show them in person how it works and leave it for them to try and see if they like it, then I will ask that these companies advertise my product to the rest of the public so that they know about it. These companies, companies being the Engineering, Design, and Tech companies, are some of the largest companies in the world right now and I feel my product can increase production speed for all companies because of its multitasking potential.
With my profits I will donate 15% of it to an animal shelter organization, so they can expand their capacity so that they do not have to take the animals life away to create more space. It gives the animals a little longer so they can find a loving home.
This laptop is a lot more than just three screens, its a tool, a dictionary, a book, a guide, a store, a map, its whatever you want it to be, its something that will make everyone's life easier. It can change the world! The Pilot 3 because you’ll be flying through your projects!
Sincerely,
Mario Avila
Here is my quadratic regression and my linear regression which shows the price that would be optimum to sell at.
2/4/15
Dear Venture Capitalists,
“Let me ask you something, Do you ever get tired of flipping back and forth through your open tabs on your computer, while you are trying to work on something? Or how about losing what tab you were on in the first place after one change? Well stop all that nonsense with the Pilot 3, a laptop with three full sized screens. Have your main project open on the main screen and all other relevant tabs open on the other two. No more messy wired monitor! Keep an organized work space with the Pilot 3. The Pilot 3, because you’ll be flying through your projects.”
This product has the ability to trifold out to 3 screens and if the two additional screens are not needed they can stay folded in to be used like a regular laptop. The screens are clear plastic and have a button to switch the back side black and the front side as your screen and when both are pure screens and folded are when it can be used as a regular laptop. Also incase you were wondering the screens fold in on their inner sides. Your mouse cursor can travel across the three screens, no additional accessories needed. Also some people could be worried about the weight of the other 2 screens well worry no more because the laptop comes with stands for these screens just in case, even though weight should not be a problem. Imagine your favorite laptop, now imagine it with 3 times better!
I have surveyed 50 people about whether they would buy this product or not, my age group is from people 14 to 76. 44 of the 50 people surveyed said they would buy a Pilot 3 for my break even price at $600. In case you do not know what break even means, its the price in which I make no profit. So if I sold this laptop for $600 I would make a profit of $0. Now referring back to my profit vs. price graph the scatter plot represents the 50 people surveyed and the quadratic regression is the projection of the target population. This quadratic regression is simply a parabola acting as the line of best fit for my graph. At the vertex of my parabola, vertex being the peak or the top, tells me the optimum price to sell my product, which is $1314 and selling at this price will make me a profit of $15,931. I believe there is a little bit of wiggle room with this price considering my target customers; Tech companies, Engineering companies, design companies and gaming world, but these are not the only customers my product is for sale to. It is also for sale to the general public; a teacher can grade, check emails, and listen to music all at once. A teenage girl can online shop, check social media and watch youtube videos all at the same time. This is also definitely a product that multi taskers will be interested in. With that being said I come to you asking for a loan of $2,400 because $600 is the cost to produce one and I would like to produce 4, one for each set of companies I plan to pitch this idea to so I can show them in person how it works and leave it for them to try and see if they like it, then I will ask that these companies advertise my product to the rest of the public so that they know about it. These companies, companies being the Engineering, Design, and Tech companies, are some of the largest companies in the world right now and I feel my product can increase production speed for all companies because of its multitasking potential.
With my profits I will donate 15% of it to an animal shelter organization, so they can expand their capacity so that they do not have to take the animals life away to create more space. It gives the animals a little longer so they can find a loving home.
This laptop is a lot more than just three screens, its a tool, a dictionary, a book, a guide, a store, a map, its whatever you want it to be, its something that will make everyone's life easier. It can change the world! The Pilot 3 because you’ll be flying through your projects!
Sincerely,
Mario Avila
Here is my quadratic regression and my linear regression which shows the price that would be optimum to sell at.