Survey on Teenagers Pocket Money

1067 Words Oct 19th, 2008 5 Pages
Introduction

Pocket Money is not just representing how much money that teenagers’ get; it also represents teenagers’ buying tendency, marketing size of teenagers, their finance method and possible reasons of stress because of financial problem. It’s worth to make a statistic on the topic teenager’s pocket money, for the reference of further studies on social research.

In this report, the following data would be collected and analyzed. Firstly, we want to compare the pocket money teenagers how to spend their pocket money in past and that in nowadays (e.g2006 vs. 1999), then we should reveal the differences by our statistic figures like mean , mode etc, so that we can know whether they get more money or not, and other statistical
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Calculation

As it is important of founding out statistic factors of nowadays teenagers’ pocket money, calculation of sample mean, mode and median , standard deviation and coefficient of skewness and coefficient of variation are calculate as follows

Assumption: Since we don’t know the exact number of “below $500” and ”above 2000”, also number of this two sample is little compare with sample size, so these figures are neglect when calculation.

Group Mean: = Σfimi/Σfi
= (750.5*29+1250.5*40+1750.5*38) / 107
=1292.5

Median = (107/2) = 53.5th, so we know that the median should be in the class 1001-1500
= Lm + [(n/2-Cum Freq.)/f]*w)
=1000.5 + [(107/2 – 29) /40]*500
=1306

Mode
Modal Class: 1001-1500
=Lmo+ (d1/d1+d2)*w
=1000.5+ (11/11+2)*500
=1423.58

We are considering 107 samples. So sample standard deviation
= 395.2638

Coefficient of skewness
=3(mean-median)/standard deviation
=3*(1292.5-1306)/395.2638
=-0.1025
The curve is slightly skew to the left

Coefficient of variation
= standard deviation/ mean *100%
= 395.2638/1292.5*100%
=30.5813%

Discussion

From the data posted by education department, mean of teenagers’ pocket money are 151*4 = $604 per month. Compared with sample mean we found, difference between two samples is 1292.5-604=$688.5. The difference due to change of HK economic environment and more teenagers earn their pocket money from attending part time job. It is advised that

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