In this lesson, students set up a virtual lemonade stand and decide how many cups of lemonade to prepare, which ingredients to buy, and costs for each cup of lemonade. The game simulates customer behaviour, and students record their decisions and outcomes.
When you run your own business, you have to make a lot of important decisions based on maths. You have to calculate how many supplies to buy, analyse the data you collect from your sales figures every day, and make decisions about the future based on the conclusions you draw from your information.
In this activity, you will each set up and run your own business—a lemonade stand. You will make all the business decisions about materials, costs, and how to make the lemonade. You will run the lemonade stand, record your data, and then analyse how much money you made or lost.
Remember that even if the lemonade you sell tastes really good, you may not always sell a lot. Sometimes the weather affects how much lemonade people purchase. You will get to see a weather forecast, but remember that weather forecasts are not always accurate.
Before you start playing, you will read directions that will show you how to start and operate your lemonade stand. As you run your business, you will use an Office Excel data collection spreadsheet to record your decisions, your data, and your outcomes. When the game is over, you will write a report about the reasons you made a profit or the reasons you did not.
Follow the steps below to guide your students through this lesson plan.
Assess students on their data collection and their final reflection. They should use mathematical terms and draw conclusions by reviewing their data.
Microsoft Internet Explorer
Calculating profits student guide
Excel data collection sheet