Write down the answer of the following discussion questions:

1. The distinction between capital budgets and operating budgets isn’t limited to the corporate world. Describe the budgeting tasks and tools you use in everyday life, and share positive and negative feedback about the process. How is your process similar to and different from a corporation’s budget process?

2. Give several examples of how descriptive statistics are used in everyday life. What advice would you give to others when interpreting statistics?