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You are going to set your budget for your utility (gas/water/sewer and electricity) expenses for the next year. You have recorded your utility expenses for the past year. That information is provided below. Evaluate and discuss whether the data collected was appropriate and representative of the information that is required to analyze the problem presented in the problem setting.Utilities Utilities Period Gas, Water, Sewer ElectricityMar, 2011 125.47 65.68Apr, 2011 70.89 61.5May, 2011 72.58 59.93Jun, 2011 80.91 72.17Jul, 2011 66.08 101.35Aug, 2011 84.58 118.04Sep, 2011 80.39 80.07Oct, 2011 88.12 60.76Nov, 2011 86.5 58.7Dec, 2011 130.06 70.22Jan, 2012 131.34 65.5Feb, 2012 121.2 67.71Mar, 2012 98.96 67.99

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Answer:

Based on the data set given one cannot determine the next year's expenses for utilities and this is because the data set does not provide the information regarding the number of people that have consumed the utilities in the past and the per unit rate of consumption as well

Explanation:

Given data

  • Gas
  • water
  • sewer
  • electricity
  • expenses done for utility
  • month of usage

To identify the future expenses in utility the following data has to be considered :

  • The total expenses done in the past year for each facility,
  • The total number of people consuming the utility to identify per person usage,
  • The Past 2-3 years or even more utility rates per unit to identify the trend of inflation.

Based on the data to be considered above the utility usage can be calculated using the following :

  • projected per unit rate of each utility
  • total number of people who will be consuming utilities in each month
  • The projected future expenses for each utility can be gotten by combining the above

Based on the data set given one cannot determine the next year's expenses for utilities and this is because the data set does not provide the information regarding the number of people that have consumed the utilities in the past and the per unit rate of consumption as well.

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