Spending Habits of Students

Topics: Standard deviation, Arithmetic mean, Variance Pages: 2 (557 words) Published: September 1, 2009
A survey on IFIM Students Lifestyle and Spending Habits
August, 2009
Executive Summary:
Students all over the world spend in several different ways, but close market research on student spending indicates that there are several common patterns that can be seen. Spending habits in adolescents is changing drastically in the last few years, but that change is almost uniform in all the metros of the world. Commercialization has begun targeting students' spending habits a very long time ago. It is only now that this commercialization has come out in-the-face, and it is very difficult to just wish it away anymore. Study Methodology:

The methodology adopted for the study was Questionnaires and Observation Sample Definition:
The sample that was undertaken for research can be classified as: {draw:frame}
The survey results were as follows:
Y axis: Cumulative frequency of Students
*The spending power of IFIM students are* depicted by the “LESS THAN OGIVE” graph. Mean Pocket Money of Students ( Computation of Sample Mean from Grouped Data) Mean( x')= Summation(fiMi) / n = 3967.17

Sample Variance of Pocket Money received by IFIM Students: Sample Variance s2 = Summation (fi(Mi – x’)2) / n – 1 = 55466666.7 / 30 – 1 = 1912643.68 Stating the variance gives an impression of how closely concentrated round the expected value the distribution is; it is a measure of the 'spread' of a distribution about its average value. Hence, Standard Deviation of the Grouped Data = s = 1382.98 A low standard deviation indicates that the data points tend to be very close to the same value (the mean), while high standard deviation indicates that the data are spread out over a large range of values. Co-efficient of Variation: (Std. Dev/Mean) x 100 = (1382.98/3967.17)x 100 = 34.86 % The Co-efficient of Variation tells us that the sample standard deviation is only 34.86% of the value of the...
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