The table shows the webster family’s monthly expenses for the first three months of the year. they are $2,687.44, $2,613.09, and $2,808.64. what is the average monthly expenditure for all expenses?

$2,703.06

step-by-step explanation:

add: $2,687.44+ $2,613.09+$2,808.64= $8,109.17

divide by 3 because you added 3 numbers.

$8,109.17/3=

answer: $2,703.06

Answer & Explanation:

Modiglani's Life cycle Hypothesis depicts spending & consumption pattern of people, in order to stabilise / or smoothen their consumprtion. The theory has following phases :

Early (Non Working) Age, Low Income stage : Borrowings are done, to cover up for lack of income that yields desirable stable consumption level. Youth, Earning (Working) Age : Savings are done, through surplus of income level over desirable stable consumption level. Old, Post retirement (Non working age) : Dissavings are done, funds from previous savings are used to cover for lack of income that yields desirable stable consumption level.

Implication rate for entire economy saving rate : It implies that economy's savings rate is high, if more population comprises of middle aged working population.