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Bsbwor501 Week 1

Decent Essays

Define
Problem Statement:
The goal of this study is to collect, analyze, and interpret my variable expenses to increase my monthly savings. I will expose key variables, unnecessary expenditures, and develop a plan to manage those spending habits. The escalation of my variable costs has prevented me to increase my savings account, which has directly prohibited my efforts to make extra payments toward my investment property.
Business Impact:
The average cost of variable expenses each month are currently $1,391.57 or an average weekly cost of $347.89. A portion of these valuable dollars could potentially be shifted into my savings account each month to put toward paying off my investment property. To bring it into perspective, if I can reduce my total estimated variable expenses to $222.65 each week or by 36%, I would be able to take the sum of my 36% reduction or $125.24 and apply that to my savings account each week. This would allow me to save an estimated value of $500.96 each month.
Goals: …show more content…

Then I would take the sum of my 36% reduction funds and apply those dollars to my savings account each week.
Project Scope:
The project scope is to collect, analyze, and interpret my variable expenses. I will not be …show more content…

Dining revealed to be the driving element of all my inputs. In figure 4 below I have conducted a Chi-Square test for discrete data. I was curious to find out if there was a relationship between the days of the week and the number of credit card swipes per day. Across the top of the Chi-Square Chart you will find the days of the week and alongside of the chart you will find categorized classifications of Low, Medium, or High. The different levels of swipes are based on the number of counts for that particular day of the

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