Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax.
-A couple over the age of 65 with a fixed monthly salary of $4200 spends $290 per month on entertainment.

Question

Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax. 
-A couple over the age of 65 with a fixed monthly salary of $4200 spends $290 per month on entertainment.

Quizplus · Accepted Answer

Older adults (over 65) in the U.S. typically spend less on entertainment compared to the average household. The Bureau of Labor Statistics reports that the average annual expenditure on entertainment for all households is about $3,050, which translates to approximately $254 per month. Since this couple spends $290 per month, their spending is above average for their age group.

Determine Whether the Spending Pattern Described Is At, Above, or Below