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Math Videos 43 videos

Math 5: Researching Business Needs
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Want to start your own business one day? Then this video is a must-watch. If you're just planning to keep working at Wendy's forever, then move along.

Math 5: What is Profit?
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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...

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Math 5: Multiplying for Profit 8 Views


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Description:

Multiplying fractions can actually be quite useful in real life. Unfortunately, that doesn't mean you can multiply fractions of pizza to make them bigger.

Language:
English Language

Transcript

00:05

[Dino and Coop singing]

00:13

So you know how to multiply fractions... well done. But you're probably

00:17

wondering, "How is that ever going to help me in life? Also, is it almost lunchtime?" [Confused by with math problems flying around]

00:22

Well good news bad news the good news is if you ever plan to start a business

00:26

multiplying fractions will definitely come in handy the bad news is it's

00:30

definitely not lunch time, them's the breaks kid. let's say Paul Pogo of Pogo's Pogo

00:35

sticks is thinking about this year's profits and yeah that's his name, poor [Paul jumping on a pogo stick]

00:39

guy never stood a chance in the trampoline business. Last year's profits

00:42

were two hundred thousand dollars and he's hoping to increase them by one

00:46

quarter this year. So how much profit will the company need to generate this

00:50

year to reach that target? And sure, a more urgent question might be whether or not

00:55

it's safe for Paul to enforce his everyone must use pogo sticks in the office at

00:59

all time policy.. but we'll leave that problem to human resources. Since we're [Workers jumping on pogo sticks fall over]

01:03

trying to figure out how to increase profit by one quarter let's first figure

01:07

out what one quarter of two hundred thousand dollars is. To do this we multiply

01:11

two hundred thousand by well.. one quarter but plot twist two hundred thousand isn't

01:16

a fraction does that mean Paul should just give up his business and start

01:19

selling frozen turkeys at the circus? Is that really Paul's backup career? Let's [Paul in a circus costume with a table of frozen turkeys]

01:23

make sure that doesn't happen, if we put a denominator of one underneath 200,000

01:28

then boom we've got ourselves a fraction and now what we've got is a couple of

01:32

fractions on our hands. We can go on fraction multiplying autopilot 200,000 [Boy holding fractions in his hands]

01:37

times one is two hundred thousand giving us a numerator of 200,000 and 1

01:41

times 4 is 4 giving us a denominator of 4, 4 happens to be a common

01:46

factor in both the numerator and the denominator and once we divide it out we

01:50

get 50,000 over one otherwise known as 50,000 does that mean we're done then

01:55

not quite, see Paul might not know everything about fractions but as a guy

02:00

in the pogo stick business he knows about things that go up and down and if [Child playing on a bungee jump]

02:04

his profits go from two hundred thousand dollars last year to 50 thousand dollars

02:07

this year that's not up that's way down and you don't need 20

02:11

years of experience making pogo sticks to see that. So what gives? Well remember

02:16

we weren't just trying to figure out what a quarter of 200,000 [Quarter coin spinning on a table]

02:19

dollars happens to be we were trying to figure out how much profit the company

02:23

will need to generate this year if it wants to make one quarter more than it

02:26

made last year, so that calls for some addition we just add $50,000

02:30

to $200,000 and there's our answer $250,000. Now all

02:35

Paul needs to do is go out there and make that money, we're sure he'll be [Paul jumps away on his pogo stick]

02:38

fine who doesn't love a good pogo stick hm, come to think of it maybe the guy at

02:43

Paul's office who needs to change the water dispenser.. [Office worker on pogo stick crashes into water dispenser]

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