Additional Assignment: The Pocket Money Simulation

Once you’ve completed the “Introduction to the Model Editor”, if you have time, please feel free to explore this additional assignment below.

High School students often have difficulty controlling their pocket money. Over time (age) spending often increases-especially if there is an increase in the number of friends you have which in turn can effect how often you go out. Luckily your pocket money can also increase due to taking a job or an increase in your allowance from your parents or guardian. It’s perhaps helpful to create a model which will let you see, for example, when you might need to look for that job by taking into account the number of friends you have based on your age. You’ll do this with the help of Co-lab’s “pocket money simulation” in the lab. Go to the lab, explore the simulation and then design a series of experiments which will help you adapt your bank account model so that it predicts when you’ll have to take a job.