A Family Spent $6,500 for Food Last Year and Spent

question 193

Multiple Choice

A family spent $6,500 for food last year and spent $6,695 this year. By how much did the cost of living increase?

• A) 65%
• B) 0.98%
• C) 3%
• D) 1.5%
• E) 5%

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Definitions:

Approval

The act of consenting to or agreeing with something often used in the context of formal permissions or endorsements.

Sample

A subset of individuals or items selected from a larger population used to conduct research or statistical analysis.

Population

The entire group of individuals or items of interest from which samples may be drawn for statistical analysis.

Quantitative

Refers to the measurement of something in terms of quantity or amount.