Reference no: EM13476325

What are some examples of using a budget? How can budgets be mismanaged or misunderstood? Why is it important to develop a statistics budget before a financial budget? Provide a brief 3-5 item statistics budget, such as ED Visits by month, meals by month, etc. Explain your answers. For example, your department's budget plan for meals is 2400 per day. The cost amount per meal is $1.75. The total cost per day would be 2400 x $1.75. The price for each meal is $4.00 and the total revenue from meals per day is 2400 x $4.00. Cite references if you use sources other than the e-text. The idea here is to think in terms of units of production before determining dollar amounts. Reason being is general or overview dollar amounts do not help us to understand or improve operations or provide us with focused details for managerial decision making. From a career or job perspective, if you were asked how would you help prepare a budget, what would you need to know first through last to develop a defensible budget ~ one that is evidence based.