Questions: The accompanying figure summarizes the average spending patterns for people of different ages in a certain nation. Determine whether the spending pattern given below is equal to, above, or below the national average. Assume that salaries and wages are after taxes. A couple under the age of 30 has a combined household income of 4300 per month and spends 215 per month on entertainment. Is the couple's spending pattern equal to, above, or below the national average? A. The spending pattern is equal to the national average. B. The spending pattern is above the national average. C. The spending pattern is below the national average.

The accompanying figure summarizes the average spending patterns for people of different ages in a certain nation. Determine whether the spending pattern given below is equal to, above, or below the national average. Assume that salaries and wages are after taxes. A couple under the age of 30 has a combined household income of 4300 per month and spends 215 per month on entertainment. Is the couple's spending pattern equal to, above, or below the national average? A. The spending pattern is equal to the national average. B. The spending pattern is above the national average. C. The spending pattern is below the national average.
Transcript text: The accompanying figure summarizes the average spending patterns for people of different ages in a certain nation. Determine whether the spending pattern given below is equal to, above, or below the national average. Assume that salaries and wages are after taxes. A couple under the age of 30 has a combined household income of $\$ 4300$ per month and spends $\$ 215$ per month on entertainment. Is the couple's spending pattern equal to, above, or below the national average? A. The spending pattern is equal to the national average. B. The spending pattern is above the national average. C. The spending pattern is below the national average.
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Solution

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Solution Steps

Step 1: Given Data

The couple under the age of 30 has a combined household income of \( \$4300 \) per month and spends \( \$215 \) per month on entertainment.

Step 2: National Average Spending Calculation

Assuming the national average spending on entertainment is \( 5\% \) of the household income, we calculate the national average spending as follows:

\[ \text{National Average Spending} = \frac{5}{100} \times 4300 = \$215 \]

Step 3: Comparison of Spending Patterns

Now, we compare the couple's spending on entertainment with the national average spending:

  • Couple's spending: \( \$215 \)
  • National average spending: \( \$215 \)

Since both values are equal, we conclude that the couple's spending pattern is equal to the national average.

Final Answer

The correct answer is A.

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