FMP Budgeting

Today we took part in a budgeting task which helped us to figure out how much we are going to be spending on this project. This includes the prices of framing, prints, props, makeup, etc. The last few weeks I have been thinking about how I want to print my images, whether I want to frame them, have them on canvases, or print them glossy or matte. However, after giving it a lot of thought I decided I wanted four A3 size prints.

I have been looking at creating business cards to have available next to my work, during the Summer show. I have decided I am going to use Moo to create my cards, as I can buy 50 cards for £13.19, which I think is very reasonable and the reviews are brilliant.

I got talking to one of the other girls on the course, who also wants to print 4 images. This meant we were able to put our images together and pay for 3 rolls of paper between us. If we were to do this, the cost would be lowered. After working out how much I was going to be spending, I created a pie chart to show my costs. For me, the most expensive part has been the makeup products that I brought for my 4 main photoshoots.

meta-chart

Once I created my pie chart I calculated the mean, median and the mode by using the classes results. To calculate the mean I added all of the numbers up and divided the total by 17 as that is how many numbers there were in total. The total mean was £107.82.

I then calculated the median which meant that I needed to put all the number in order, from the lowest to the highest and then found the middle number out of the 17 numbers. 17 is an odd number which meant that finding the middle number was easy as the ninth number was the middle. The median was £85.

When it came to calculating the mode, I realised that I could not calculate a mode as no number was the same and as the mode is finding the most common number, it meant that it was not possible to find the most common number.

I then needed to consider whether my budget was sensible compared to the class average. As a class we spoke through the most sensible average out of the median and the mean and decided that the median should be the most sensible average. We decided this because as there were two high numbers in the sequence, it meant that it took the mean total up. My budget was the second highest in the class, being £208, which was mainly spent on makeup. However I wanted to use the high quality makeup, for the best results and as I am going to study Makeup at university in September, I knew it would not go to waste and would be used again.

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