Beacon Lesson Plan Library
Is the Price Right?
Jennifer Catlett Bay District Schools
Description
Students play The Price Is Right game to estimate and to chart the price of items to the nearest $1.00 and $10.00 and then check their estimates by counting out the actual amount in play money.
Objectives
The student understands concrete and symbolic representations of whole numbers, fractions, decimals, and percents in realworld situations.
Materials
Play money sets for pairs of students (currency: $1s10, $5s2, $101; coins: quarters  4; dimes  5; nickels  5; pennies  10)
Overhead projector
Coins and currency for overhead projector
Grocery ads from newspapers and magazines that show the prices of foods
Math journals
Online student lesson That's Right (See Weblinks)
Book ARTHUR'S FUNNY MONEY by Lillian Hoban, 1981, New York: Harper and Row Publishers
Teacher made Student Score Chart (See Preparation)
The Price is Right worksheet for student copies and overhead transparency (see Associated File)
Preparations
1. Prepare play money sets and overhead money sets as described in the Resources section of this lesson.
2. Make copies and overhead transparency of The Price is Right worksheet. (See Associated File.)
3. Check computer Internet connection, bookmark, and preview online student lesson, That's Right as listed in the Weblinks section of this lesson.
4. Make math journals or use paper for Student Store problem.
5. Prepare overhead projector with markers.
6. Create Student Store chart by drawing school supply items with price tags on chart paper or on an overhead tranparency. Make sure to put the price on each item. You can have prices that change by using index cards as price tags and writing different amounts on each. Attach to the chart with adhesive funtak.
7. Clip grocery ads from newspapers. Students can help with this process.
8. Check out the book ARTHUR'S FUNNY MONEY from the library. (See Materials list.)
Procedures
NOTE: This lesson only addresses whole numbers and decimals.
1. Read ARTHUR'S FUNNY MONEY by Lillian Hoban. (This story is about starting a business to earn money, but first Arthur has to figure out how much money he has and how much money he will need to buy supplies.) Tell students that they are going to learn how to estimate and how to count money to the nearest $1.00 and $10.00 by playing The Price Is Right game.
2. Review the names of coins and currency and the value of each.
3. Discuss appropriate ways to read and to write each coin and currency using the decimal point and dollar sign. (Example: $0.01=penny, $0.05=nickel, $0.25=quarter, etc.)
4. Review how to combine amounts of money by pretending to buy objects as pictured in newspaper ads. After discussing this, model a round of The Price Is Right game on the The Price Is Right worksheet. Tell students that the object of the game is to come as close as they can to the actual total that is an even dollar amount. (For example, a candy bar that costs $0.45 would be estimated to $1.00 because this is the closest even dollar amount.) Write the items you want to buy in the space provided, record an estimate rounded to the nearest dollar for the total price of the items, and chart the actual price of the objects after counting out the total with coins and currency in the coin sets.
5. Allow time for the students to practice estimating combined amounts by recording the items and the estimates on the The Price Is Right worksheet. Students should then check their estimates by counting and by recording the actual total with play money sets. Students can pair up to play. Continue this process for a couple of class sessions or until students demonstrate an understanding of the concepts.
6. Repeat steps four and five with estimates rounded to the nearest $10.00. Make sure to monitor student work to clarify misconceptions that might arise.
7. Once you introduce rounding to the nearest $10, you can set up the following work stations for additional practice and review:
 Rounding to the nearest $1.00 station
 Rounding to the nearest $10.00 station
 Student online lesson station,That's Right
Students rotate to each station as teacher talks with and observes students to clarify understanding.
Wrapup:
Call all the students back together and distribute math journals. Have the Student Score Chart (on paper or overhead) posted so that students can see it. Pose the following problem to be answered individually in their journals:
You are going to the student store to buy supplies. Your family gives you $10.00 and tells you not to exceed that amount with your purchases. Which items will you purchase? What is the estimated total of the items? What is the actual total of the items?
When students are finished, ask for volunteers to share how they solved the problem.
Assessments
NOTE: This lesson only addresses whole numbers and decimals.
1. Formative assessment takes place with teacher observation during activities. The teacher should clarify misunderstandings as they occur and provide minilessons as necessary. Look for the following:
The student's work reflects an understanding of the context of money to problemsolve by:
 Reading decimal notation (1 point)
 Writing decimal notation (1 point)
 Identifying decimal notation (1 point)
 Translating problems into models using play money (1 point)
 Solving problems by estimating totals to nearest $1.00 and $10.00 (1 point)
Students who do not receive all five points will need feedback from you with additional practice.
2. The math journal entry is also an assessment based upon the same criteria.
Extensions
Students can work in pairs throughout this lesson. This lesson is extended in the online lesson plan, The Price Is Right, So Let's Make Change, which is available from the Beacon Learning Center (www.beaconlearningcenter.org). This lesson gives students an opportunity to estimate, to calculate, and to count back change from selected dollar amounts.
Web Links
Web supplement for Is the Price Right? That's Right
Attached Files
"The Price is Right" worksheet. File Extension: pdf
