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Activity 5 : Conclusion Based on the results of this study, a) List three (3) important items in a family expenditure.

Explain how you have select these important items. b) What is the cost of living for a family in the year 2011 when compared to year 2009? c) What are the impacts on a family if the cost of living increases by 20% in 2013? d) If your suggestions are able to reduce the cost of living, how does it affect the composite index? e) What is the percentage of reduction in the cost of living in year 2013 if your suggestions are accepted?

CONCLUSION a) Based on the expenditure items in a family, the expenses for food is more than 50% of the total expenditure in a family. It is understandable that the expenses for food take up the most amount of expenditure in an average family. Food is essential for every living creature in the world, of course including us human being. In the modern era, more and more people lack the time to prepare homemade food from fresh ingredients which costs less than any fast foods or food sold outside. Instead, people are willing to spend extra money every day to buy food from restaurants or hawker centers. With three meals a day at least, the expenses for food will be tripled. Transportation expenses are also one of the most important items in a family because everyone needs to travel. To travel, we need transportations. Transportation needs fuel. Nowadays we often face with heavy traffics every day especially during peak hours. Vehicles consume more petrol during traffic jams. As the demands for petrol continue to rise, the price for petrol will also increase because the resources for petroleum are getting fewer. Of course, who doesnt need entertainment? No matter the young or the old, everyone needs entertainment in their life. From PlayStation3 to LCDs and to the most trending mobile phones, the modern citizens especially the young ones crave for such luxuries. Most urban citizens are willing to spend their hard earn money on technology devices, such as the well-known I-products. Thats why I consider this as an important item in a family. b) The cost of living for a family in the year 2011 when compared to the year 2009 has shown a noticeable increment. Every listed expenditure items has increased at least 11.57% which is the house rental. The highest rise is 21.13%, which is the food. Transportation, Education and entertainment have increased at a different rate which is 18.55%, 14.04% and 16.69% respectively. c) Families in the metropolitan, no matter employees or employers, will face a whole new different challenge every year. As the population continues to increase, the costs for every product in the markets will eventually increase. As predicted the living costs of a family will soon rises about 20% in the year 2013, parents have no choice but to work overtime and younger adults will do part time jobs in order to sustain the needs. This contributes to a family which lacks communication and cares because of the hectic schedules every day. This will lead to a negative impact to the judgments of the young as everything would be moneyorientated. d) The composite index of all the items listed, which Is food, house rental, transportation, education and entertainment in the year 2013 based on year 2009 has decreased due to the reduction in the percentage of expenditure for the items above. The decreased monthly expenses of a family for food, house rental, transportation, education and entertainment were estimated to save up to RM144.04, RM42.12, RM60.03, RM24.12 and RM56.55 respectively, which are equivalent to the decrease of percentage in the monthly expenditure of 12.4%, 5.2%, 8.7%, 7.5% and 10.2% respectively. e) If my suggestions are accepted, the monthly expenditure in year 2013 for all the items will be successfully reduced, as stated in (d). Thus, in total, all these would add up to a saving in the monthly expenditure in year 2013 of RM326.86, which is equivalent to 9.36% on a monthly basis.

Reflection
1. While you were doing the project, what have you learned? 2. List out several moral values that you practice when doing this project. 3. Present your opinions or feelings creatively concerning this project through the usage of symbols, illustrations, drawings or songs. Undoubtedly, this is my first ever Additional Mathematics project work in my entire school life. Upon completion of all the tasks, I have surely gained new experiences and knowledge. Now I have a better understanding on the amount of expenditure in a modern family. I have clearly recognized the hard work of parents in order to fulfill all the essential needs in a family, not forgetting the expenses on entertainment and luxuries. I shall act more wisely next time while spending my money. During the process of doing this project, I have also learnt that patience is one of the important moral values I must practice in order to achieve a better result. I have shown patience while I was doing the interviews with the respondents. I have also shown a kind a friendly attitude towards them. For example, I am expected to be make clear explanations politely and is willingly to repeat them if necessary. Since this is my first Additional Mathematics project work, I have faced a few difficulties when I am doing this project. However, I have applied the determination value in and I continue working on the project as hard as I can without giving up. I have also learned that critical thinking is a crucial skill when Im trying to search for an alternative solution to my trouble. From the information that Ive gathered and the statistics Ive obtained, I have clearly realized that the living costs in the modern days are increasing. Unquestioningly, I shall certainly be wiser while spending and be thriftier to spend on daily basis. In addition, I shall start to plan on my daily expenses to prevent excess waste of money.

The art is not in making money, but in keeping it. Proverb Being exposed to theory, stimulated by a basic love of concepts and mathematics, was a marvelous experience. Rudolph A. Marcus

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