Data Analysis Flashcard

Front

What is a dot plot?

Back

A dot plot is a simple way to display data using dots to represent the frequency of values in a dataset.

Front

What does it mean when an expense is labeled as 'variable'?

Back

A variable expense is an expense that can change from month to month, such as entertainment costs.

Front

What is a 'fixed expense'?

Back

A fixed expense is an expense that remains the same each month, like a house payment.

Front

How do you determine the total number of rainy days from a table?

Back

You add up the number of rainy days listed for each week in the table.

Front

What services do banks typically provide?

Back

Banks provide services like loans, checking accounts, and savings accounts.

Front

What is the purpose of a budget?

Back

A budget helps individuals plan their spending and saving to manage their finances effectively.

Front

What is the difference between income and expenses?

Back

Income is the money earned, while expenses are the money spent.

Front

Why is it important to track expenses?

Back

Tracking expenses helps individuals understand where their money goes and make informed financial decisions.

Front

What is a financial institution?

Back

A financial institution is an organization that provides financial services, such as banks and credit unions.

Front

What is a loan?

Back

A loan is money borrowed that must be paid back with interest over time.