Standard #: MA.912.FL.4.2

Benchmark Instructional Guide

Connecting Benchmarks/Horizontal Alignment

• MA.912.FL.1.1
• MA.912.FL.1.2 
• MA.912.FL.2.1
• MA.912.FL.2.2
• MA.912.FL.2.5

 

Terms from the K-12 Glossary

• Rate

 

Vertical Alignment

Previous Benchmarks

• MA.7.AR.3.2

 

Next Benchmarks

 

Purpose and Instructional Strategies

In Math for Data and Financial Literacy, students determine the advantages and disadvantages of a one-time warranty when purchasing items (MTR.7.1). 

• Protection Plans 
  Instruction includes an analysis on protection plans offered from stores. Students should be able to determine the financial advantages and disadvantages of purchasing the extended plans. Instruction should allow students the opportunity to decide when purchasing a protection plan is beneficial. 

• For example, Bella purchases a laptop for $879. She is offered the extended warranty at $189 for 3 years. After having the laptop for 2 years, she notices that there is an issue with the keyboard. She takes it in for service and it is $60 per hour or covered under the warranty if applicable. Is it a good idea for Bella to purchase the warranty? Explain why or why not using calculations using technology. 
• Car Warranties 
  Students should be able to analyze car warranties to determine if purchasing extended warranties are beneficial or when it is a recommended purchase. 

• For example, if certain parts break down after the normal warranty expires. Based on what they have paid for the warranty, compare it to cost of the parts to determine the benefits. On the opposite side, what if the extended warranty is not purchased and the part or repair is paid out of pocket. Would it have been more advantageous to purchase the warranty? 
• Home Protection Plans 
  • Students should use reasonableness to determine the need for home protection plans. Instruction should include analyzing different appliances in the home and which ones should have protection plans and which ones should not. 
    • For example, students should compare the prices of purchasing items as they break, repairing same item, or purchasing the warranty. 
• Students should analyze the types of warranties for a business and for an individual. Instruction includes an analysis of warranties based on the item and environment. 
  • For example, if a company purchases 100 laptops versus an individual purchase. Statistically speaking, there is a higher probability of a laptop having issues when there are more to purchase than an individual purchase. Students should be able to decide which items, such as laptops, a warranty would be needed on if it is a business purchase or an individual purchase. 
• Instruction includes the risk of utilizing or not utilizing a one-time warranty on one or multiple purchases. When purchasing items that could have a warranty, students should be able to determine what the risks of having the warranty are. 
  • For example, cellular phones may offer a warranty through their insurance policy. If a claim is made, what were to happen if the cellular phone breaks again? Students should be able to determine the risks of having the warranty versus not having it.

 

Common Misconceptions or Errors

• When comparing the different warranties, look for students who may select one as more or less advantageous based on the stipulations and items. 
• Previously students have used spreadsheets and other technology to help calculate math problems, look for students who may input the information incorrectly into the spreadsheet and/or technology.

 

Instructional Tasks

Instructional Task 1 

• Cassie is purchasing a used car with approximately 26,000 miles. The car’s original warranty is three years/36,000 bumper to bumper and five years/60,000 for powertrain coverage. During the purchase, the sales person suggest that she purchase an extended warranty. The extended warranty would cost an additional $2,200 and offer a six-year/72,000-mile warranty. Based on Cassie’s research, the car seems to have limited issues during the warranty. Cassie averages about 7,000 miles per year and plans to keep the car for at least 3 more years. Explain the advantages and disadvantages of purchasing the extended warranty and when it would be essential to have purchased it.

 

Instructional Items

Instructional Item 1 

• Juan purchased a new dishwasher when he remodeled his kitchen. The company provided a 1-year warranty with the purchase price. Three years later, the dishwasher stopped working and it was discovered that it needed a new piece. The piece costs $250 plus labor, which is $50 an hour with a 3-hour minimum. Based on this scenario, which warranty would have been the best option for Juan to add during the initial purchase?
  a. $150 for 3 years beyond manufacturer’s warranty with 50% reimbursement of parts and labor
  b. $360 for 5 years beyond manufacturer’s warranty with 75% reimbursement for parts and 100% labor
  c. $540 for 5 years beyond manufacturer’s warranty with 100% reimbursement for parts and labor
  d. No additional warranty

*The strategies, tasks and items included in the B1G-M are examples and should not be considered comprehensive.