3. Data Analysis: Analyze the graph in Question 2.2. and write a short paragraph answering the following: 2.3.1. Which expense category has the highest mean and why do you think this is th case? 2.3.2. How can a group of young professionals adjust their spending habits to save more money? 2.3.3. How does the group's spending compare to your personal budget you

**2.3.1. Highest Mean Expense Category** Based on the analysis of the graph, the expense category with the highest mean appears to be \(\text{Housing}\). This is likely because housing costs such as rent or mortgage payments tend to be fixed, high, and less flexible compared to other expenses. Given that these costs are influenced by market rates and the scarcity of affordable housing, they consistently drive up the overall mean spending for that category. **2.3.2. Adjusting Spending Habits for Savings** A group of young professionals can adjust their spending habits by first creating a detailed budget to identify non-essential expenses. For example, they might consider reducing expenditures in areas like dining out, entertainment, or unnecessary subscriptions. Additionally, they could explore more cost-effective living arrangements or shared accommodations to mitigate high housing costs, which are often the largest expense. By reallocating funds from discretionary spending to savings, they can boost their overall financial security. **2.3.3. Comparison to a Personal Budget** When comparing the group's spending to my personal budget, it seems that while both budgets allocate a significant portion to housing, my personal budget may be more balanced with relatively lower discretionary spending. I tend to make adjustments such as prioritizing savings and investing a higher percentage of my income, whereas the group's expenditures, as reflected by the higher mean in key categories, indicate a larger impact from fixed, high-cost expenses like housing. This suggests that a similar reassessment of spending priorities could benefit the group by promoting more sustainable financial habits.