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If you know your earnings, and you know how much you've spent, how do you calculate your profit? That's right - you hire an accountant. (Or, if you...
Math 5: Adjusting Profit Values 2 Views
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Description:
Let's watch Ben as he struggles with bar graphs. Why? Because we delight in the suffering of others, duh.
Transcript
- 00:02
[Dino and Coop singing]
- 00:12
Ooh, sweet bar graph!
- 00:14
We've seen a bunch of bar graphs in our time and that?
- 00:17
That's one to be proud of. [Boy holding up a bar graph grinning]
- 00:18
However, what if there's some sort of change in the data?
Full Transcript
- 00:21
You might have to make some adjustments.
- 00:23
But don't worry: it's not like bar graphs and written in stone. [Boy making adjustments to his graph]
- 00:27
And if you do make your bar graphs with stone, you should probably think of using something
- 00:31
else. [Bar graph written on a boulder and woman pushes it around]
- 00:32
Y'know…like… paper?
- 00:33
Just a thought.
- 00:35
Let's see how this works with an example.
- 00:37
Ben works as an intern at Bouncy Balls Inc., a company that makes all sorts of bouncy balls. [Ben throwing a pink ball and catching it]
- 00:42
The hours aren't great, but he does get to take home as many bouncy balls as he wants,
- 00:47
so…we'd call that a win.
- 00:49
For one project, he had to make a bar graph, showing projections of the company's profits [Profit projections for Ben's company]
- 00:53
for the next five years.
- 00:54
Based on the info he got, it seemed like profits would be up a quarter every year.
- 00:59
However, it turns out the company is actually expecting a drop in profits of one fifth in [Man holds out a sign for a drop in profit in year 3 and Ben gasps]
- 01:05
year 3.
- 01:06
Does this mean Ben's graph will go in the trash…
- 01:08
…and that Ben might end up there, too? [Ben falls into a trash can]
- 01:10
Not necessarily…
- 01:11
Heh, just kidding, Ben.
- 01:13
You wouldn't fit in there anyway.
- 01:14
But Ben will definitely need to make some changes to his bar graph, so let's help him [Ben using a laptop to make changes to his bar graph]
- 01:18
out.
- 01:19
The change that Ben has to deal with is that rather than increasing by a quarter from year
- 01:23
2 to year 3…
- 01:24
…profits should actually drop by one fifth.
- 01:27
So let's take a look at those year 2 profits, and do some calculations. [Profit projections for Ben's company and arrow points to year 2]
- 01:31
If we look at the graph, we see that for year 2, profits were $10,000.
- 01:35
So let's multiply that by one fifth, and subtract the result from $10,000. [Year 2 profits multipled by 1 fifth]
- 01:39
We're sure you can do this calculation in your sleep, but we'd definitely recommend [Boy sleeping whilst doing math calculations]
- 01:43
doing most of your math while you're awake.
- 01:46
It's tough to see the paper when your eyes are closed. [Boy holding a scribbled piece of paper from writing while sleeping]
- 01:48
So, on to the calculations: one fifth times $10,000 is $2,000…
- 01:53
…and when we subtract that from the original $10,000, we get $8,000.
- 01:58
So once Ben adjusts his graph so that year 3 is at the right height, will he be done?
- 02:03
Nope. [Ben waves his arms in the air celebrating]
- 02:04
Sorry Benny, no rest for the wicked.
- 02:05
Remember, his graph was based on the idea that profits would go up by a quarter every
- 02:10
year… [Ben stops celebrating goes back to his graph]
- 02:11
…so after changing the bar for year 3, he also has to adjust all the years that came
- 02:14
after it: year 4 and year 5.
- 02:16
An intern's work is never done.
- 02:19
For year 4, we take the profits from year 3, multiply by a quarter…
- 02:22
…and then add this to the year 3 profits, giving us a total of $10,000.
- 02:27
For year 5, we do almost exactly the same thing, taking the profits from year 4, multiplying [Adjusted graph for the 5 year profit projections]
- 02:32
by a quarter…
- 02:33
…and then adding this to the year 4 profits, giving us a total of $12,500.
- 02:37
So once Ben adjusts the heights of his bars to hit this new data, he'll be ready to present [New adjusted bar graph and a hand giving a thumbs up]
- 02:41
his new bar graph.
- 02:43
And as long as he doesn't, say, knock over a huge crate of bouncy balls, the presentation
- 02:46
should go fine. [Ben knocks over a crate and bouncing balls fall out]
- 02:47
Ugh, Ben!
- 02:48
What'd we just say not to do??
- 02:51
This guy never listens. [Bouncing balls bouncing in the classroom]
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