Final answer:
Timothy must save enough money so that even after spending $80 on camping gear, he will have more than $315 left for his summer camp. The inequality representing this situation is S - $80 > $315, where S is the total amount he needs to save.
Step-by-step explanation:
To find how much money Timothy needs to save to go to summer camp, considering he will spend part of his savings on camping gear, we can use an inequality. Since Timothy needs to save more than $315 and he will spend $80 on camping gear, we can denote his total savings as S and set up the inequality as S - $80 > $315. This inequality will help Timothy determine the minimum amount he needs to save.
The inequality represents an intertemporal choice example which is common in economics. An intertemporal choice involves decisions about what and how much to consume at different points in time, often involving saving in the present to enable spending in the future, much like Timothy's situation.