BUDGETS Refer to the circle graph below that shows a monthly...

BUDGETS Refer to the circle graph below that shows a monthly budget for a family. Write each ratio in simplest form. a. Find the total amount for the monthly budget. b. Write the ratio of the amount budgeted for rent to the total budget. c. Write the ratio of the amount budgeted for food to the total budget. d. Write the ratio of the amount budgeted for the phone to the total budget. (FIGURE CANNOT COPY)

BUDGETS Refer to the circle graph below that shows a monthly budget for a family. Write each ratio in simplest form.
a. Find the total amount for the monthly budget.
b. Write the ratio of the amount budgeted for rent to the total budget.
c. Write the ratio of the amount budgeted for food to the total budget.
d. Write the ratio of the amount budgeted for the phone to the total budget.
(FIGURE CANNOT COPY)

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Key Concepts

Budget

A budget is a financial plan that outlines expected income and expenditures over a specified period of time. In problems involving budgets, one typically examines how various amounts of money are allocated, and then works with these values to determine proportions, totals, or comparisons between different categories.

Ratio

A ratio is a way of comparing two quantities by showing the relative size of one quantity in relation to another. It is often expressed as a fraction or with a colon, and in problems that involve budgets, ratios are used to express the fraction of the total budget that is allocated to a specific expense.

Simplest Form

Writing a ratio or fraction in simplest form means reducing it to the smallest whole numbers that retain the same value, by dividing both the numerator and denominator by their greatest common divisor. This simplification makes the ratio easier to understand and compare.

Circle Graph

A circle graph, or pie chart, is a visual tool used to represent data as proportional segments of a circle. Each sector of the circle corresponds to a data category and the size of the sector reflects the relative proportion of that category within the whole, making it easier to visualize how a budget is divided among different expenses.

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