Lesson 27 – Data Modelling: Managing Money

Course 3
Inspiring the next generation of digital innovators
 Lesson 27 – Data Modelling:
Managing Money
By the end of this lesson you will know:

• How to model data using a spreadsheet

03
 Data Modelling with Spreadsheet
• One of the most useful things about spreadsheets Saturday Receive Spend on comic Spend on sweets Leftover Total
is that you can use them to predict things. Let’s 14/01/2017 5.00 1.25 2.00 1.75 1.75
check an example. 21/01/2017 5.00 1.25 2.00 1.75 3.50
28/01/2017 5.00 1.25 2.00 1.75 5.25
04/02/2017 5.00 1.25 2.00 1.75 7.00
• Radzi wants to buy a new computer game. The 11/02/2017 5.00 1.25 2.00 1.75 8.75
18/02/2017 5.00 1.25 2.00 1.75 10.50
game costs 29.99. 25/02/2017 5.00 1.25 2.00 1.75 12.25
04/03/2017 5.00 1.25 2.00 1.75 14.00
• He decides to use a spreadsheet to work out when 11/03/2017 5.00 1.25 2.00 1.75 15.75
18/03/2017 5.00 1.25 2.00 1.75 17.50
he’ll be able to afford it. 25/03/2017 5.00 1.25 2.00 1.75 19.25
01/04/2017 5.00 1.25 2.00 1.75 21.00
• Every Saturday Radzi is given 5.00 pocket money 08/04/2017 5.00 1.25 2.00 1.75 22.75
15/04/2017 5.00 1.25 2.00 1.75 24.50
for doing jobs around the house (such as tidying 22/04/2017 5.00 1.25 2.00 1.75 26.25
up, washing up, laying the table). 29/04/2017 5.00 1.25 2.00 1.75 28.00
06/05/2017 5.00 1.25 2.00 1.75 29.75
13/05/2017 5.00 1.25 2.00 1.75 31.50
• He then spends 1.25 on a comic, 2.00 on sweets, 20/05/2017 5.00 1.25 2.00 1.75 33.25
and saves the remaining 1.75.
• When will Radzi have saved enough money to buy the
04 game?
 Data Modelling with Spreadsheet -
continued
• Radzi can’t wait this long for the new game! Saturday Receive Spend on comic Spend on sweets Leftover Total
14/01/2017 5.00 1.25 1.00 2.75 2.75
21/01/2017 5.00 1.25 1.00 2.75 5.50
• How is he going to afford it sooner? 28/01/2017 5.00 1.25 1.00 2.75 8.25
04/02/2017 5.00 1.25 1.00 2.75 11.00
11/02/2017 5.00 1.25 1.00 2.75 13.75
• What about reducing the amount he spends on 18/02/2017 5.00 1.25 1.00 2.75 16.50
25/02/2017 5.00 1.25 1.00 2.75 19.25
sweets to 1.00? 04/03/2017 5.00 1.25 1.00 2.75 22.00
11/03/2017 5.00 1.25 1.00 2.75 24.75
• Radzi is going to model this scenario on the 18/03/2017 5.00 1.25 1.00 2.75 27.50
25/03/2017 5.00 1.25 1.00 2.75 30.25
spreadsheet. 01/04/2017 5.00 1.25 1.00 2.75 33.00
08/04/2017 5.00 1.25 1.00 2.75 35.75
15/04/2017 5.00 1.25 1.00 2.75 38.50
• When will Radzi have saved enough money to 22/04/2017 5.00 1.25 1.00 2.75 41.25
buy the game? 29/04/2017 5.00 1.25 1.00 2.75 44.00
06/05/2017 5.00 1.25 1.00 2.75 46.75
13/05/2017 5.00 1.25 1.00 2.75 49.50
20/05/2017 5.00 1.25 1.00 2.75 52.25

05
 Activity 1
Let’s Practise
Open a new spreadsheet, copy the column headings
from Radzi’s spreadsheet and type in the data.
Saturday Receive Spend on comic Spend on sweets Leftover Total
14/01/2017 5.00 1.25 2.00
21/01/2017 5.00 1.25 2.00
28/01/2017 5.00 1.25 2.00
04/02/2017 5.00 1.25 2.00
11/02/2017 5.00 1.25 2.00
18/02/2017 5.00 1.25 2.00
25/02/2017 5.00 1.25 2.00
04/03/2017 5.00 1.25 2.00
11/03/2017 5.00 1.25 2.00
18/03/2017 5.00 1.25 2.00
25/03/2017 5.00 1.25 2.00
01/04/2017 5.00 1.25 2.00
08/04/2017 5.00 1.25 2.00 • Now add the following formula
15/04/2017 5.00 1.25 2.00 into the Left over column, in cell
22/04/2017 5.00 1.25 2.00
29/04/2017 5.00 1.25 2.00
E2: =B2-C2-D2
06/05/2017 5.00 1.25 2.00
06 13/05/2017 5.00 1.25 2.00
20/05/2017 5.00 1.25 2.00
 Activity 1 - continued
• Can you remember how to hold the mouse down and paste the formula down the rest of
the column?

• Next, we are going to create a running total in column F, adding up the Left over value
week by week.

• The first week there is nothing to add as Radzi starts with £1.75 and nothing from the
previous week.

• Type =E2 into cell F2.

07
 Activity 1 - continued
• In week 2, you need to add 1.75 + 1.75. In cell F3, type =F2 + E3.

• What are you going to type in cell F4?

• Do you need to keep repeating the formula or is there a quicker way?

• When you have finished your spreadsheet should look like Radzi’s first spreadsheet.

l
• Change the value in the Spend on sweets column to 1.00. (Save time by copying Wel e!
and pasting rather than typing over the data).
DonYou have used a
• Your spreadsheet should now look like Radzi’s second spreadsheet. spreadsheet to
model how
• What if Radzi wanted the game even sooner? When can he buy the game if he doesn’t buy pocket money
08 can be managed
any sweets?
 Terminology
• Formula – a mathematical method used to calculate a sum
• Scenario – a possible sequence of events

09
 • A spreadsheet model contains data and
Lesson values that you change to help you
understand something that is going to
Summary – happen
• It allows you to make decisions about what
Spreadsheet you are going to do
Modelling • It allows you to see what difference changes
to values will make and when

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