What Is First Step in Budgeting

question 76

Multiple Choice

What is first step in budgeting?

• A)Determining your net worth
• B)Establishing good money management habits
• C)Assessing your current financial position
• D)Establishing a good credit rating

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Definitions:

Variability

The degree to which observations in a dataset or statistical distribution vary from the mean and among themselves.

Range

The difference between the highest and lowest scores in a data set, reflecting the spread or dispersion of the scores.

Mean Deviation

The average of absolute differences between each value in a set and the mean of the set, indicating the dataset's dispersion.

Variability

The degree to which data points in a statistical distribution or data set differ from each other and from the mean.