Engage - Creating a budget Preview CT-STEM

Engage - Creating a budget

Suppose that you own a trucking company. Each month, you budget for fuel expenses but the price of gasoline fluctuates from day to day. You gather a sample of prices per gallon from 30 different gas stations in your area.

Gas Station (#)	Price per gallon (USD)
1	3.21
2	3.42
3	3.33
4	3.41
5	3.09
6	3.16
7	3.17
8	3.00
9	3.11
10	2.98
11	3.78
12	3.56
13	3.67
14	3.44
15	3.64
16	3.50
17	3.44
18	3.19
19	3.25
20	3.37
21	3.39
22	3.41
23	3.40
24	3.46
25	3.39
26	3.49
27	3.71
28	3.26
29	3.31
30	3.38

Questions

Please answer the questions below.

Question 1.1

How much should you budget for gasoline (per gallon)? Explain your reasoning based on the data set above. Keep in mind that you want to budget enough money for fuel expenses, but not too much, since there are other expenses for your business.

Notes

These notes will appear on every page in this lesson so feel free to put anything here you'd like to keep track of.