Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class or geographic area. Cost of living is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period. Stage of life refers to the different phases of life that all individuals pass through in a normal lifetime.
[(0.24*5)+ (0.66*5)] == 4.50
0.24x5 = 1.20
0.66x5 = 3.30
+ ____
4.50
27.00÷4.5 = 0.166666667
