front 1 Net Income | back 1 Also known as disposable income. Income that remains after all taxes have been deducted. The money you have available to spend. |
front 2 Mean | back 2 The average of a set of data. |
front 3 Median | back 3 The middle value of the data. |
front 4 Mode | back 4 The data value that occurs the most. |
front 5 Essential Expense | back 5 An expense that cannot be eliminated from day-to-day life. |
front 6 Discretionary Expense | back 6 An expense that is considered non essential |
front 7 Outlier | back 7 A value in the data set that is extremely different from the other values. |
front 8 Skewed Data Set | back 8 Caused by an outlier. The mean of the data is not equal to the median. The median is not as affected by the impact of outliers. |
front 9 Bimodal | back 9 When a data set has 2 modes. |
front 10 Gross Income | back 10 Income before all taxes are deducted. |