• 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.
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