Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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". References: Broom, D. (2021, Dec 06). This is how COVID-19 hit household expenditure in Europe. World Economic Forum. https://www.weforum.org/agenda/2021/12/pandemic-impact-europe-consumer-spending/ Choo, Y. T. (2021, Apr 28). Consumer spending by S'pore residents last year at 2019 level despite Covid-19: MAS. The Straits Times. https://www.straitstimes.com/business/economy/singapore-resident-spending-in-2020-held- at-2019-level-gradual-price-increases Question 1 (a) Using relevant Excel reports, describe and state the values of three location measures and three dispersion measures of average monthly household expenditures in 2019 and 2020. (30 marks) (b) Use relevant charts to describe household expenditures in 2019 and 2020. (30 marks) (c) Develop a summary report to address Mr Goh's hypothesis. You are expected to provide interpretation to numerical measures and charts in parts (a) and (b). You are not required to do any further inferential analysis, or report the numerical measures and charts again. The word limit is 300 words. Please indicate the word count at the end of your answer. (40 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus

Authors: Jon Rogawski, Colin Adams

3rd Edition

1319116442, 9781319116446

More Books

Students also viewed these Mathematics questions

Question

1. Information that is currently accessible (recognition).

Answered: 1 week ago