Teresa is working full time after completing her first year of school. She is using the Quantitative Reasoning Process to decide which cell phone plan best fits her needs and her current monthly budget. Teresa has not thought about how her budget will change when she returns to school.How could foresight help Teresa make an informed decision?Group of answer choicesTeresa would not benefit from thinking about her future expenses because it is appropriate to use all her current pay for her current needs.Teresa would spend less on a cell plan to save more money for her upcoming expenses and a possible change in income when she goes back to school.Teresa would realize how much her parents have helped her and be more grateful.Teresa would spend more on a cell plan because she can get extra money from student loans.Teresa would better use online customer reviews and talk to friends to ensure she is getting a plan that fits her cur

Bonnie saved $1300 to spend on an amazing trip. She is using the Quantitative Reasoning Process to decide which kind of trip to take. She is now at the step where she is identifying key variables and making key assumptions. Which of the following activities would Bonnie do in this step?Group of answer choicesNarrow her choice to three possible trips to make calculations easier, then list major cost categories that could change such as transportation, lodging, activities, and food.Decide which trip best meets her budget and preferences.Look at the pictures she took on her trip and think about how she can better stay under her budget the next time she travels.Forget planning and book a one-way flight to Thailand in first class for $1250.Add up all her estimates for transportation, lodging, activities, and food then subtract the total from $1300 for each possible trip.

Even though Sasha is only 23 years old she decided to start saving money for retirement. She used the Quantitative Reasoning Process to create a monthly budget.To fit her goals, she plans to spend only  $609 per month which leaves $225 each month to deposit into her retirement account.This month, Sasha spent the following: $247 on groceries, $224 on new clothes, $78 on eating out, $90 on gas for the car, and $162 on entertainment.Select the most correct assessment of Sasha's situation: Group of answer choicesThere is no problem with Sasha's situation because she spent less than her monthly income.There is no problem with Sasha's situation because she is sure that it will be much easier to spend less next month.The problem with Sasha's situation is that she will never be able to retire if she does not live within her budget this month.The problem with Sasha's situation is that she did not use foresight to imagine the new clothes and entertainment she wanted to have without waiting.The problem with Sasha's situation is that she is not following through on her planned budget.

Danaisha does all her grocery shopping at organic markets and has a monthly grocery bill of $325. Charles says that Danaisha is wasting her money on wants instead of focusing on needs. He buys in bulk, uses coupons, and shops at Save-More for a monthly bill of $195. Who's budgeting correctly for food?*1 pointDanaisha, because she is focusing on her health, which will have a guaranteed payoff in the long runCharles, because he's taking efforts to save money by focusing on his needs onlyBoth, because needs vs wants are determined on an individual basisNeither, because they should meet in the middle somewhere. Charles should focus more on health, and Danaisha should cut her spending.

Karl is a student at BYU-Idaho. In November, he was diagnosed with diabetes. Karl used the Quantitative Reasoning Process to create a plan to eliminate extra sugar from his diet and to put exercise into his schedule. As a part of his plan, Karl removed all the treats from his student apartment and joined an intramural basketball team at BYU-Idaho.Karl has not thought about how his diet and exercise plan could change when he goes home for Christmas break. How could Karl practice using foresight to make more informed choices for his health over the holiday break?Group of answer choicesKarl could probably plan on eating the holiday sweets as usual and only exercise if someone asks to play basketball.Karl would not benefit from thinking about his health goals because he is doing the right thing currently for his current needsKarl could search online discussion boards and talk to more friends to ensure he has a health plan that allows him to eat holiday sweets and exercise less frequently and still maintain his health.Karl could talk to his family about his plans and bring healthy alternatives to the traditional holiday sweets. He might make some alternative exercise plans when he is at home so he can still reach his exercise goals without the basketball league.Karl could realize that the diabetes is due to the genes his parents passed on to him so he could be angry and not go home for the holidays.

1.Question 1Mary Jones wants to set up a monthly budget for her family. What are the pieces of information she should include? (Select all that apply.)1 pointChecking Account InformationExpensesIncomeCash Flow2.Question 2Kelly wants to create a family budget but is not sure how to set up the information and wants it to be the quickest option. Which option should she use?1 pointMake the budget from scratch on a blank spreadsheet.Open a template within ExcelDownload the latest Budgeting App on her Smartphone.3.Question 3Dan is looking to create a graph of where his spending is going in a single month. What piece of information does he have for his expense section to do this?1 pointDate the expense was documented.The difference in the planned and the actual expenses for the month.The difference in the planned and the actual income for the month.Percentage of how much of the expense is of his total expenses.4.Question 4Let's say you want to find the 3 biggest spend categories for your family in the budget. What is the best way to see that information?1 pointReviewing your checkbook entry to see what the three biggest checks you wrote for the month was.Creating a file with the most expensive bill for the month in the front and putting them in orderCreate a pie graph to see what the 3 largest slices are for your expensive.Looking at your budget spreadsheet and seeing the largest amounts you spent.5.Question 5You have entered your planned expenses and actual expenses for the month. You want to write a formula to see if you are over budget or under budget. Which of the formula below is the best one for this equation?1 point=Planned Income-Actual Income=Actual Income-Planned Income=Planned Expense-Actual Expense=Actual Expense-Planned Expense6.Question 6You have a blank spreadsheet and want to create a family budget by month on the worksheet. How should you set up your entries?1 pointWith just amounts and no differential information to see what it wasIn date order as they occurred like a checkbook ledgerSeparate sections for Income and Expenses with each showing planned vs actual and their difference.7.Question 7If you want to set up yearly budget tracking, can you do this all at once, say at the beginning of the year?1 pointNoYes8.Question 8You want to set up a formula to see what the amount of income your family had for the year on your yearly budget. Which of the following formula would you use?1 point=Actual Income-Planned Income='January'!C5+'February'!C5+'March'!C5+'April'!C5+'May'!C5+'June'!C5+'July'!C5+'August!C5+'September'!C5+'October'!C5+'November!C5+'December'!C5=Actual Income+Actual Income=Planned Income-Actual Income9.Question 9You want to find a template to create a budget. You are in the new file area, how do you find the type of template you need?1 pointOpen a blank spreadsheet and locate the template you need there.Type "budget" in the search bar located on the top of the new file page.Look at the list of spreadsheets below and pick the best one.10.Question 10You want to take multiple rows and create a large row for a title on your budge. What is the command you use?1 pointCenterMergeBordersFormat