A report shows that Covid-19 reduced household expenditure in Europe by 8% in 2020.

Elsewhere, consumer spending also dropped significantly in 2020, with 4% seen in the United

States, and 17% reported in China (Broom, 2021).

After reading the report, Mr. Goh, a student of Singapore University of Social Sciences, was

interested to find out how Covid-19 has affected the household spending in Singapore.

Surprisingly, he found news saying that consumer spending among Singapore residents was

resilient and at a similar level to 2019 (Choo, 2021).

In order to have a better understanding of the impact of Covid-19 on household spending of

Singapore residents, Mr. Goh decided to conduct a survey. He got a random sample of 32

students from Singapore University of Social Sciences, and collected data on their average

monthly household expenditure in 2019 and 2020. Based on his own experience, he

hypothesised that the household expenditure of Singapore residents in 2020 is lower than that

in 2019.

The data is given in the Excel data file "BUS105_household expenditure" is as follows: