The accompanying figure summarizes the average spending patterns for people of d

Question

The accompanying figure summarizes the average spending patterns for people of different ages in a certain nation. Determine whether the spending pattern given below is equal to, above, or below the national average. Assume that salaries and wages are after taxes. A retired couple (over 65 years old) with a fixed monthly income of $4500 spends $960 per month on health care. Click the icon to view the figure. Is the couple's spending pattern equal to, above, or below the national average? Select the correct choice below and fill in the answer box within your choice (Round to the nearest tenth as needed.) A. The couple spends average The couple spends average 1% of the salary on health care per month, which is below the national % of the salary on health care per month, which is equal to the national % of the salary on health care per month, which is above the national B. C. The couple spends average

Explanation / Answer

The couple spends ${(960/4500)*100}21.33%(approx) of salary on health care.

From the figure,

12% is spent on Health Care for (65 and older ages)

Here our given couple is of age over 65 years old,

and their expense on health care: 21.33% which is greater than 12%

C. The couple spends 21.33% of the salary on health care per month, which is above the national average. (Ans).

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