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FYPP Data AnalysisF1
FYPP Data AnalysisF1
The first objective of this study is to analyze the factors which influence the spending behavior
of working adults. Secondly, this research will help to determine whether spending behavior is
influenced by socio-demographic factors such as age, marital status, education, income level, etc.
Additionally, the research will also set out to understand the financial attitude and literacy of
working adults. This will identify the extent to which the working adults have information and
knowledge about managing finances and whether they are aware of the implications of over-
spending, savings rate, inflation and more. Last but not least, the research question will focus
chi-square analyses of the data. The rationale behind the use of SPSS is the fact that it offers
qualitative models and applications that are acceptable when it comes to carrying out data
analysis. I effectively employed every step of the estimations as well as analysis to generate valid
results. Once the data aggregation was completed in Microsoft Excel, the results were data was
loaded into the SPSS data view where each variable in the row represented a case while the
column represented the case ID, Likert survey item, demography or composite variable value.
The SPSS software generated an assortment of statistical tools that are necessary for the
determination of the dependability of data for assessing hypotheses and responding to the core
The collected data has to be analyzed as a necessary measure to ensure that meaning has been
derived. According to Yin (2016), they ought to be an employee of a five-phase analytic process
that encompasses the assembly, disassembling, reassembling as well as arranging, interpretation,
and conclusion. The researcher undertook all these measures in the present analysis.
To attain the statistical conclusion, the needed confidence level has to be established. In the case
of this study, the confidence level was set to 95% as recommended by Field (2013). The
following presents a review of the research question, the null hypothesis (H01), as well as the
Does age (X1), gender (X2), marital status (X3), Level of education (X4), children (X5),
personality and lifestyle (X6), Income (X7), Society (X8) and economy of the county (X9)
The questionnaire that was employed generated a total of 109 responses. It started with basic
The first section of the analysis involved undertaking comprehensive descriptive analysis to
determine the underlying frequencies in the diverse variables under analysis. In this case, the
analysis sought to determine the number of variables in the different analysis clusters that are
Age of participant
The first section encompassed an analysis of the age of the participants who were used in the
study as participants, with analysis indicating that out of the 109 participants, the biggest
percentage was within the age of 18 and 23 years at 45% followed by respondents between the
The income of the respondents reveal the patterns that characterize the amounts that each of
these respondents made. The respondent’s annual income demonstrated that 41.3% were
receiving between MVR 10,000 -15,000. This is an indication that most of the respondents were
Respondent Income
To establish some of the issues that inform the purchase decisions by these respondents, a Likert
scale was used to assess their proclivities to some of the questions asked.
The first question was on whether their purchase choice or decision is informed by the
recommendation that has been made by a family member or friend. Out of the 109 respondents,
29.4% disagreed with the statement, 20.2% strongly disagreed with the statement, which 28.4%
indicated a neutral position. Based on these statistics, it is can be argued that the respondents do
not based their purchase decisions on recommendations from people close to them but make
them independently.
statements regarding what informs their purchase decisions was on whether their personality and
lifestyle have a significant impact on the products and services they spend their money on; 33%
disagreed, 37.6% strongly disagreed while 17.4% were neutral in regard to the statement.
Overall, this is an indication that the respondents’ lifestyle and personality have minimal impact
on their expenditure choices especially considering that only 6.4% strongly agreed with
statement.
The next statement sought to examine whether the society that the respondent lives in has an
impact in their spending behavior. 22% of the respondents strongly disagreed with the statement,
29.4% disagreed, 16.5% strongly agreed while 11% agreed with the statement. This is indication
that while the bigger proportion of the respondents feels that the society does not affect their
spending behavior, there is a substantive proportion that believes the society affects their
spending behaviors.
economy of their country has an impact on their spending behavior. Of these respondents, 39.4%
strongly agreed with the statement, 23.9% agreed with the statement, 5.5% strongly disagreed,
7.3% disagreed while 23.9% were neutral in regard to the statement. Overall, the conclusion that
can be drawn in this section is that majority of the respondents do not believe that the economy
The economy of the country affects my spending behavior. i.e., rise in prices
the things they spend their income on. Out of the 109 respondents, 24.8% strongly disagreed
with this statement, 30.3% disagreed, 8.3% strongly agreed, 12.3% agreed while 23.9% were
more they are inclined to spend. Based on the obtained responses, 41.3% of the respondents
strongly agreed with the statement, 24.8% agreed, and 5.5% strongly disagreed, 11% disagreed
while 17.4% were neutral. The trend is an indication that majority of the respondents do not feel
that an increase in the level of their income makes them spend more.
their spending habits. From the responses obtained, 21.1% strongly disagreed with this premise,
21.1% disagreed, 12.8% strongly agreed, 13.8% agreed while 31.2% were neutral. The trend
presents an indication that while the bigger proportion feels that their level of education does not
affect their spending habits, there is an additional significant proportion that feels that the level
Chi-square test
The researcher further ran a chi-square test that was meant to examine the overall factors that
The basis of using the chi-square test for independence is founded on the need to discover
Crosstabulation
The table below offers an indication of the prevailing relationship between males and females
when it comes to examination of whether there is a statistical significance between gender and
Chi-Square Tests
p>.005, implying there is a statistically significantly association between gender and the
likelihood of purchase an item that has been recommended by a family member of a friend.
Chi-Square Tests
Symmetric Measures
In the case of assessing where there is a statistically significant relationship between the income
of the respond and whether one spends most of their money on impulse purchase, X (1) is 5.767,
p=.673, an indication of the fact there is no statistically significant association between the
variables.
Do you have children? * Do you seek financial advice from professionals? Crosstabulation
Chi-Square Tests
Value df Asymp. Sig. (2- Exact Sig. (2- Exact Sig. (1-
sided) sided) sided)
a. 1 cells (25.0%) have expected count less than 5. The minimum expected count is 4.62.
b. Computed only for a 2x2 table
Symmetric Measures
income by the respondent and whether one seeks financial advice, X (1) is 1.940, p=.164, an
indication of the fact there is no statistically significant association between the variables. This is
evidenced by the fact that since the sig value is more than 0.05, there is no relationship that was
established.
Chi-Square Tests
the respond and whether one is more likely to seek financial advice, X (1) is 3.739, p=.443, an
indication of the fact there is no statistically significant association between the variables since
The table below offers an indication of the prevailing relationship between males and females
when it comes to examination of whether there is a statistical significance between gender and
Chi-Square Tests
233, implying there is no statistically significantly association between gender and the likelihood
In the case of assessing whether there is no statistically significant relationship between the
gender and the need to seek financial assistance among the respondents, X (1) is 2.639, p=.0005,
an indication of the fact there is statistically significant association between the variables
Correlation
The purpose of the correlation assessment was meant to assess the relationship between the
different variables and their impact on the overall expenditure among adult consumers in the
Maldives.
The first Pearson product moment correlation carried out in this analysis sought to assess the
relationship that exists between the level of income and the need to seek financial advice among
the respondents. From the analysis output, There was a strong, negative correlation between the
two variables, one that was not statistically significant (r=-.103, n=109 and p=.286).
Correlation between the level of income and whether one seeks financial advice
Correlations
Correlation between age and whether one will likely purchase an item if it has been
recommended by a family member or friend
Correlations
N 109 109
The second Pearson product moment correlation carried out in this analysis sought to assess the
relationship between age and whether one will likely purchase an item if it has been
recommended by a family member or friend among the respondents. From the analysis output,
There was a strong, positive correlation between the two variables, one that was statistically
Correlation between the respondent’s highest level of Education, whether they have children and
Correlations
Highest level of Do you have The society I live
Education children? in influences my
spending
behaviour
**
Pearson Correlation 1 -.271 .118
relationship among three variables, respondent’s highest level of Education, whether they have
children and whether the society I live in influences their spending behavior. From the analysis
output, There was a weak, negative correlation between the ones level of education and they
have children, one that was statistically significant (r=-271, n=109 and p=0.05). Between ones
level of education and whether the society they live affects their spending behavior, there is a
weak, positive correlation that is not statistically significant (r=.118, n=109 and p=.223).
Regression
The regression analysis was carried out to determine the significance of the various factors in
predicting the factors that influence adult spending behaviors in the Maldives.
Model Summaryb
low degree of correlation. The R2 value on the other hand is used as an indication of the overall
total variation in the dependent variable can be explained via use of the independent variable. In
this case, it is only 5.6% that can be explained which is very small.
ANOVAa
a. Dependent Variable: The more income I earn, the more I tend to spend
b. Predictors: (Constant), Marital Status
From the above regression analysis, it is clear that it managed to predict the dependent variable
significantly accurately. This is depicted by the fact that from the results, the regression model
was statistically significant, with the p<0.013, which is an indication that the model managed to
Model Summaryb
very low degree of correlation. The R2 value on the other hand is used as an indication of the
overall total variation in the dependent variable can be explained via use of the independent
variable. In this case, it is only 0.8% that can be explained which is very small.
ANOVAa
Model Sum of Squares Df Mean Square F Sig.
From the above regression analysis, it predicted the dependent variable significantly accurately.
This is depicted by the fact that from the results, the regression model was statistically
significant, with the p<.000, which is an indication that the model managed to statistically of
Model Summaryb
high degree of correlation. The R2 value on the other hand is used as an indication of the overall
total variation in the dependent variable can be explained via use of the independent variable. In
this case, it is only 82.2% that can be explained which is very high.
ANOVAa
a. Dependent Variable: Does social media has a huge influence on the products you buy?
b. Predictors: (Constant), Age
From the above regression analysis, it is clear that did predict the dependent variable
significantly accurately. This is depicted by the fact that from the results, the regression model
was statistically significant, since p<.000, which is an indication that the model managed to
Model Summaryb
a high degree of correlation. The R2 value on the other hand is used as an indication of the overall
total variation in the dependent variable can be explained via use of the independent variable. In
ANOVAa
significantly accurately. This is depicted by the fact that from the results, the regression model
was statistically significant, with the p<.005 which is an indication that the model managed to
high degree of correlation. The R2 value on the other hand is used as an indication of the overall
total variation in the dependent variable can be explained via use of the independent variable. In
ANOVAa
a. Dependent Variable: The economy of the country affects my spending behavior. i.e., rise in
prices
b. Predictors: (Constant), Income
From the above regression analysis, it is clear that it managed to predict the dependent variable
significantly accurately. This is depicted by the fact that from the results, the regression model
was statistically significant, with the p<.005, which is an indication that the model did manage to
working adults and further determine whether the spending behavior is influenced by socio
demographic factors such as age, marital status, education, income level etc. It has become
evident that as has been indicated in the literature, there is an assortment of considerations that
consumers assess when making purchase decisions. In the case of psychological factors, it is
evident that biogenic needs are seen to be more valuable than the case with psychogenic needs as
the respondents indicated they are not affected by pressure from the society. Further, the case of
social factors that affect one purchase decisions seemed to receive conflicted results, whereby
while a bigger proportion of respondents indicted celebrities do not have much impact on their
purchase behaviors, there is proportion that indicated such celebrities did influence them. The
family setting however affected their purchase behaviors and even the family setting itself, with
an analysis indicated that there is a statistically significant relationship existed between having
children, what the respondent purchased and further their level of education. The analysis is
evidence to the fact that the family has an integral part when it comes to the purchase and
consumption behaviors of adults, implying that marketers and other players can base their
marketing campaigns appealing to the family setup. As was indicated in the literature, the
economy of a society further affects the overall consumption tendencies of consumers as it has
been found that one of the core elements that affect consumption is the economy of the country
and the consumers’ income. Attributes as inflation, high interest rates, and low incomes tend to
Social demographic attributes as age, education, income as well as age have additionally been
found to have an impact on the spending behaviors among adults. For instance, older adults are
seen to be more inclined to saving unlike the younger ones, while education does not seem to
one’s spending tendencies. This can be explained by the fact that possessing financial literacy
allows one the knowledge and competence they need to plan their expenditure based on their
finances.
In the case of gender, there was no indication that it has an implication one spending there was
The core focus of this study was to assess the factors which influence the spending behavior of
working adults. Secondly, this research will help to determine whether spending behavior is
influenced by socio-demographic factors such as age, marital status, education, income level. A
The results of the study indicate mixed outcomes from the various variables that were analyzed.
For instance, the analyses established relationships that were statistically significant between
financial literacy, gender, economy of the country, social media advertising, and
recommendations from family and friends on an individual’s purchase behaviors. On the other
hand there was no relationship between age, family, having children, whether one is married, and
level of education do not have a major influence on the purchase decisions of adults. These
findings present an answer to the main research question which sought to investigate whether
demographic factors and financial knowledge have an impact on the purchase behaviors of
adults. There however was an indication that one's highest level of education has an impact on
the number of children they tend to have. The results of this study tend to provide a general
perspective that demographic, financial attitudes, as well as literacy, exhibit an impact on adult
consumer purchase decisions, an attribute that businesses and other players can exploit to
used and further create smaller groups for the data analysis to offer greater insight when it comes
to the factors under consideration. Further, the use of multiple survey items to assist the creation
of a composite variable will provide the advantage of offering a more reliable and concrete
survey instrument. The fact that this was the first study concerning the underlying factors that
inform adult consumer purchase decisions in the Maldives implies that additional future
qualitative and quantitative research on the same topic will help develop a better comprehension
of the demographic and financial attitude as well as literacy. The additional recommendation is
to focus on the case studies for the Maldives businesses to allow a qualitative analysis of the