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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

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".

Average Monthly Household Expenditure (SG$)
Household No. Year 2019 Year 2020
1 3100 3720
2 8250 5940
3 5430 5919
4 5900 5723
5 3900 3198
6 6300 7560
7 4800 5760
8 7400 6734
9 9210 8197
10 5950 6962
11 4390 3249
12 5520 3919
13 5810 4648
14 6360 5724
15 6490 7528
16 4290 3947
17 5550 4329
18 8280 8528
19 7360 6330
20 7810 6170
21 6745 7082
22 5630 4335
23 6530 4571
24 4570 5301
25 5790 6832
26 6390 6710
27 5210 4741
28 3670 2789
29 4420 4243
30 4690 5065
31 5630 5461
32 5910 4373

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.

(b) Use relevant charts to describe household expenditures in 2019 and 2020.

(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).

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