(a) Analyze the data and identify the mostexpensive child. (b) Analyze the data and identify the expense category of greatest cost. (<) Comment on the value of line item and object of expenditure analysis of data in a business context. How do modern information systems facilitate such analysis? (4) (optional) Pivot tables are useful tools for enhanced analysis of data. Experiment with the pivot table on the electronic worksheet template, and see if you can confirm you answers to part (a) and part (b). What other ways can the data be sorted?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Mr. and Mrs. Driggs have four children, all of whom are away at college. Below is a listing of expenses incurred by each
child during a recent month.
Еxpense
CHILD
Cathy
David
Rachel
Caroline
Food
150.76
344.56
266.76
222.92
Rent
475.00
300.00
395.00
225.00
Entertainment
44.67
25.00
321.56
66.56
Electricity
68.90
110.78
55.89
76.99
Auto
220.20
124.44
188.88
Insurance
87.76
55.55
144.09
47.75
Phone
45.45
88.09
25.00
37.98
Tuition
825.00
990.00
500.00
Books
332.23
433.89
779.54
210.00
Clothing
66.90
423.65
103.19
385.58
(a)
Analyze the data and identify the most expensive child.
(b)
Analyze the data and identify the expense category of greatest cost.
(c)
Comment on the value of line item and object of expenditure analysis of data in a business context. How do modern
information systems facilitate such analysis?
(d) (optional) Pivot tables are useful tools for enhanced analysis of data. Experiment with the pivot table on the
electronic worksheet template, and see if you can confirm you answers to part (a) and part (b). What other ways
can the data be sorted?
Transcribed Image Text:Mr. and Mrs. Driggs have four children, all of whom are away at college. Below is a listing of expenses incurred by each child during a recent month. Еxpense CHILD Cathy David Rachel Caroline Food 150.76 344.56 266.76 222.92 Rent 475.00 300.00 395.00 225.00 Entertainment 44.67 25.00 321.56 66.56 Electricity 68.90 110.78 55.89 76.99 Auto 220.20 124.44 188.88 Insurance 87.76 55.55 144.09 47.75 Phone 45.45 88.09 25.00 37.98 Tuition 825.00 990.00 500.00 Books 332.23 433.89 779.54 210.00 Clothing 66.90 423.65 103.19 385.58 (a) Analyze the data and identify the most expensive child. (b) Analyze the data and identify the expense category of greatest cost. (c) Comment on the value of line item and object of expenditure analysis of data in a business context. How do modern information systems facilitate such analysis? (d) (optional) Pivot tables are useful tools for enhanced analysis of data. Experiment with the pivot table on the electronic worksheet template, and see if you can confirm you answers to part (a) and part (b). What other ways can the data be sorted?
d)
Below is a pivot table that includes data from the problem. With a bit of clicking, you should be able
to verify the solutions to part (a) and part (b), as well experiment with numerous other sorts of the
tabular information.
Data
Sum of Cathy
Sum of Caroline
Sum of Total
Expense
Auto
Sum of David
Sum of Rachel
220.20 $
124.44 $
188.88 $
533.52
Books
Clothing
Electricity
Entertainment
Food
332.23
433.89
779.54
210.00
1,755.66
66.90
423.65
103.19
385.58
979.32
68.90
110.78
55.89
76.99
312.56
44.67
25.00
321.56
66.56
457.79
150.76
344.56
266.76
222.92
985.00
Insurance
87.76
55.55
144.09
47.75
335.15
Phone
Rent
Tuition
Grand Total
45.45
88.09
25.00
37.98
196.52
475.00
300.00
395.00
225.00
1,395.00
825.00
990.00
500.00
2,315.00
2,316.87 $
2,771.52 $
2,215.47 $
1,961.66 $
9,265.52
Transcribed Image Text:d) Below is a pivot table that includes data from the problem. With a bit of clicking, you should be able to verify the solutions to part (a) and part (b), as well experiment with numerous other sorts of the tabular information. Data Sum of Cathy Sum of Caroline Sum of Total Expense Auto Sum of David Sum of Rachel 220.20 $ 124.44 $ 188.88 $ 533.52 Books Clothing Electricity Entertainment Food 332.23 433.89 779.54 210.00 1,755.66 66.90 423.65 103.19 385.58 979.32 68.90 110.78 55.89 76.99 312.56 44.67 25.00 321.56 66.56 457.79 150.76 344.56 266.76 222.92 985.00 Insurance 87.76 55.55 144.09 47.75 335.15 Phone Rent Tuition Grand Total 45.45 88.09 25.00 37.98 196.52 475.00 300.00 395.00 225.00 1,395.00 825.00 990.00 500.00 2,315.00 2,316.87 $ 2,771.52 $ 2,215.47 $ 1,961.66 $ 9,265.52
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