Modelling Using Spreadsheets
We often need to plan for future events and activities, and these plans sometimes include calculations about and money and budgeting.While we can make simple calculations in our heads, it is sometimes beneficial to use spreadsheet software to make financial predictions and plans ( such as how per week we need to save per week in order to afford that new computer game…etc…etc). This type of planning is known as spreadsheet modelling.
Advantages of spreadsheet models
- Formulas and scripts allow for powerful, advanced modelling
- In built charts make for user friendly and professional output.
- Easy to use and make
- Easy to share – copy / online
Holiday Savings Model
We all love going on holiday, but it’s often quite difficult to save up enough money to enjoy yourself! Holiday budget modelling using spreadsheets is a great way to help you work out how much you need to save each week or month in order to save up enough!
Click on the link on the right to make a copy of the Google Sheets model and have a go at calculating what you need to save for your next holiday!
- You want to go scuba diving in August and you have calculated that you will need to have at least £550 pounds saved up. How much will you have to save per week to achieve your goal?
- You are going to Disney World with your family in July but you have to pay for your own park tickets at £400! How much will you have to save each month to pay for your tickets?
Grade Prediction Model
When studying for a qualification, or managing a class of students, you will often need to calculate a student’s present or predicted grade. Grade prediction modelling using spreadsheets is a great way to quickly work out what your predicted grade is!
Click on the link on the right to make a copy of the Google Sheets model and have a go at calculating what your predicted grade is!
- You scored 45% on your first test, but have improved by 7% each time in all the following tests. What is your current predicted grade?
- You scored 72% , 66 % , 95% and 80% on your first 4 tests. What is the minimum percent you need to achieve on your final test to achieve an A?
Activity – Road trip Model
You are going on a long road trip across the USA and would like to know how many miles you will need to travel each day.
Create a model of the road trip. It should be able to:
- Calculate how many miles per day you will need to travel
- How much fuel you will use for your trip ( assume 50 MPG and a price of $5 a gallon)
- How many hours driving you will need to do each day.
You will need to draw on your knowledge from the practical units you have covered.
Complete the QuizMaster quiz titled “Spreadsheet modelling review quiz”