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One of the most common mistakes that people make occurs when they estimate expenses. Take a look at a simple problem.
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Johnny wants to buys 3 Atomic Fire Balls for sixty-nine cents each. About how much money will he need? This looks like a simple problem - take a guess at the answer then click ok to continue...
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Johnny wants to buys 3 Atomic Fire Balls for sixty-nine cents each. About how much money will he need? The first idea is that 69 is closer to 50 than 100 so round down to 50. 50 * 3 is $1.50. Is this a good estimate?
Yes
No
Johnny wants to buys 3 Atomic Fire Balls for sixty-nine cents each. About how much money will he need? Another idea is that sixty-nine is 70. 70 * 3 is $2.10. Is this a good estimate?
Yes
No
Johnny wants to buys 3 Atomic Fire Balls for sixty-nine cents each. About how much money will he need? Another plan is to take the 69 all the way up to 75 to cover tax. Now 75 * 3 is estimated using compatible numbers, 80 * 3 = $2.40. Is this a good estimate?
Yes
No
Johnny wants to buys 3 Atomic Fire Balls for sixty-nine cents each. About how much money will he need? Our final plan is to make the 69 into $1.00. Now 1 * 3 is $3.00. Is this a good estimate?
Yes
No
Try one your own! Betty wants to buy 3 club sandwiches for $4.49 each. Which of the following is the best estimate of the cost.
$12.00
$13.50
$15.00
$30.00
Try one your own! Sharon wants to buy 5 games that cost about $19. Which of the following is the best estimate of the cost.