Lemonade Stand Game Data Analysis

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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.

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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.