If There Is a

question 15

Multiple Choice

If there is a .10 probability of an event happening, there is a .90 chance of the event not happening and the odds of the event are ______.

• A) .02
• B) .07
• C) .11
• D) .57

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Definitions:

Discretionary Income

the portion of an individual's income available for spending after the essentials (like food, shelter, and clothing) have been taken care of.

Household Budget

An estimation of revenue and expenses over a specified period for a home, serving as a plan for personal financial management.

Monthly Expenses

refer to the total costs incurred on a regular monthly basis for personal or business purposes.

Monthly Income

The total amount of income a person or household receives in a month, from all sources.