To calculate the Average Groceries Cost Per Month (\(FC\)):
\[ FC = A \times 345 + C \times 135 \]
Where:
The average monthly grocery bill for one person ranges from $165 to $345, depending on age. The USDA estimates that a family of two will spend between $380 and $770 per month on groceries, while a family of four can expect to pay between $640 and $1,500. These estimates are based on what consumers in the U.S. actually pay for food at home, which the USDA reports is about 6% of income. The median household income in the U.S. is about $63,000 per year, which means the average American spends about $450 per month on food at home.
Let's assume the following values:
Using the formula:
\[ FC = 2 \times 345 + 2 \times 135 = 960 \]
The Average Groceries Cost Per Month is $960.
Let's assume the following values:
Using the formula:
\[ FC = 1 \times 345 + 3 \times 135 = 750 \]
The Average Groceries Cost Per Month is $750.