MANAGEMENT

Detailed explanation-1: -To get the average, add up the amount of money spent for 12 consecutive months, then divide by 12. This will give an average of how much has been spent per month. Calculating average monthly expenses requires actual or estimated figures for all monthly costs.

Detailed explanation-2: -To calculate the average expenditure per household reporting the purchase of an item, divide the average household expenditure on that item by the corresponding percentage reporting and then multiply by 100.

Detailed explanation-3: -Monthly expenses list. According to the same 2020 BLS study, the average American’s monthly expenses are $5, 111, which is about 73% of the average monthly income. This list of expenses covers everything from housing, health insurance and food to entertainment, personal care products and books.

Detailed explanation-4: -A man spends on an average Rs. 269.47 for the first 7 months and Rs. 281.05 for the next 5 months.