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Discretionary Expenses Vocab

Total questions: 20

Worksheet time: 30mins

Name
Class
Date
1.

What are the Measures of Central Tendency?

a)

mean

b)

median

c)

mode

d)

all of the above

2.

Melissa is having a bad day after school and decides to take a trip to Publix. During her shopping trip she decides to spend her allowance on chips and soft drinks. What type of expense is this?

a)

Essential Expense

b)

Discretionary Expense

c)

Operating Expense

d)

Rent Expense

3.

 When you find the sum of the values by adding them all up, then divide the sum by the number of values in the data set this is called

a)

mode

b)

median

c)

mean

d)

statistics

4.

Wyatt's bills have been extremely high for the month. He decided to take a look at his personal budget he set up in Excel, and found that has rent has been raised by 10% compared to last month due to a new security installation. What type of expense is this?

a)

Discretionary

b)

Essential

c)

Disposable

d)

Bimodal

5.

What is math that involves collection, interpretation and analysis of numerical data in large quantities?

a)

the mathy math

b)

statistics

c)

algebra

d)

geometry

6.

What is: A quantity displayed below the normal line of text (and generally in a smaller point size)?

a)

subscript

b)

index

c)

mean

d)

statistics

7.

Your gross income helps determine your financial reliability. while your _____ can help you create your monthly budget. This is due to the fact it is your income after taxes are taken out. Some of these taxes include: Social Security tax,

Health insurance, IRA, 401(k) or retirement fund contributions.

a)

factual income

b)

disposable or net income

c)

gross income

d)

reliable income

8.

Emma works at Target and has been asked by her boss to do extensive market research to see how much customers spend. What type of expense is this?

a)

Discretionary

b)

Essential

c)

Algebra

9.

What image is this referring to?

a)

index

b)

subscript

c)

outlier

d)

measure of central tendency

10.

an extreme value in a data set that is either much larger or much smaller than all the other values

a)

average

b)

bimodal

c)

outlier

d)

subscript

11.

What is another term for exponent, such as the one shown in this image?

a)

outlier

b)

subscript

c)

data

d)

index

12.

Is the amount of money left to spend and save after income tax has been deducted

a)

discretionary income

b)

disposable income

c)

gross income

d)

essential income

13.

A display of values that occur in a data set or graph and how often (or frequently) the event is observed

a)

Bimodal

b)

Statistics

c)

Frequency Distribution

d)

Data

14.

A probability distribution with more than one mode is called:

a)

mean

b)

Frequency Table

c)

unimodal

d)

bimodal

15.

Find the mean of this data set:

6, 8, 5, 5, 9, 8, 10, 8

a)

7.375

b)

9.34

c)

8.132

d)

5

16.

Find the median of this data set:

6, 8, 5, 5, 9, 8, 10, 8

a)

8

b)

6.5

c)

5

d)

7

17.

Find the mode of this data set:

6, 8, 5, 5, 9, 8, 10, 2

a)

6 and 2

b)

2

c)

8

d)

5 and 8

18.

This type of income is used by landlords to determine whether that person is a worthy borrower or renter. When filing income taxes, _____ is the starting point before subtracting deductions to determine the amount of tax owed

a)

credit

b)

disposable income

c)

descretionary income

d)

gross income

19.

Gross income includes your personal wages as well as other income. This income is before any ____ are taken out

a)

assets

b)

expenses

c)

dividends

d)

taxes

20.

Find the mean of this data set:

6, 14, 8, 5, 3, 11, 9

a)

4

b)

13

c)

8

d)

3