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In this issue of Math in the News we look at economic data around Valentine's Day purchases. We look at data in tables and graphs and try to account for trends in the data.
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Math in the NewsIssue 90
America’s Candy Crush
Valentine’s Day
How do you plan to celebrate Valentine’s Day? Will you purchase cards, candies, flowers, and gifts? In this issue we’ll look at economic data from the National Retail Association (http://www.nrf.com).
Valentine’s Day
The National Retail Federation predicts Americans will spend $17.3 billion this year for Valentine’s Day.
Valentine’s Day
Here is how this holiday has fared over the past few years. (Note: The Data for 2014 is an estimate.)
Total Spent on Valentine's Day ($Billions)
2007 2008 2009 2010 2011 2012 2013 2014
16.9 17 14.7 14.1 15.7 17.6 18.6 17.3
Valentine’s Day
Here is a graph of the data, which shows a consistent amount near $17 billion over the past few years.
Valentine’s Day
Let’s look at four key data points in more detail:• Candy• Flowers• Jewelry• Cards
Valentine’s Day
Here is a multiple line graph showing all four data sets. Let’s look at the individual graphs.
Valentine’s Day
Here is the line graph for Candy.
Valentine’s Day
Here is the line graph for Flowers.
Valentine’s Day
Here is the line graph for Jewelry.
Valentine’s Day
Here is the line graph for Cards.
Valentine’s Day
Candy, Jewelry, and Cards all show a drop in spending. But Flowers show an increase.
Valentine’s Day
• Why would Flower purchases show a steady increase, while the others showed a decrease?
• Why would Candy sales show a decline? Why would people be buying less candy?
• Why would Jewelry sales show a decline? What would this say about the state of the economy?
Valentine’s Day
• Now that you have seen the data for spending on Valentine’s Day, is your anticipated spending consistent with these results?
• What factors affect how much you spend and what you spend it on?
• Conduct a survey in your class to see how much your classmates plan to spend.