FYPP Data Analysis DRAFT 3

Data Analysis
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
closely on the spending behavior of the two genders.
Data Analysis Plan

Through the use of SPSS 22.0 software where the researcher employed simple linear regression,
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
question informing the study.
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
alternative hypothesis (H1i):
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)
influence the spending behavior of working adults in the Maldives?
The descriptive analysis/ Frequencies

Results
The questionnaire that was employed generated a total of 109 responses. It started with basic
questions that assessed the background and status of the respondents.
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
under consideration in this analysis.
Age of participant
Frequency Percent Valid Percent Cumulative

Percent
Valid 18-23 49 45.0 45.0 45.0
24-29 39 35.8 35.8 80.7
30-34 9 8.3 8.3 89.0
35-39 9 8.3 8.3 97.2

40 > 3 2.8 2.8 100.0
Total 109 100.0 100.0
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
age of 24 and 29 at 39%.
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
in the working category.
Respondent Income

Percent
MVR 10,000 - 15,000 45 41.3 41.3 41.3
MVR 15,000 - 20,000 21 19.3 19.3 60.6
MVR 20,000 - 25,000 3 2.8 2.8 63.3

Valid
MVR 25000 > 11 10.1 10.1 73.4
MVR 4000 – 9000 29 26.6 26.6 100.0
Total 109 100.0 100.0
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.
I am more likely to buy an item if a family member or a friend recommends it

Percent
Strongly Agree 10 9.2 9.2 9.2
Agree 14 12.8 12.8 22.0
Neutral 31 28.4 28.4 50.5

Valid
Disagree 32 29.4 29.4 79.8
Strongly Disagree 22 20.2 20.2 100.0
Total 109 100.0 100.0

The next question that meant to assess the respondents’ agreeableness with some of the
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.
My personality and lifestyle has a huge impact on the products/services I spend on

Percent
Agree 6 5.5 5.5 11.9
Neutral 19 17.4 17.4 29.4

Valid
Disagree 36 33.0 33.0 62.4
Total 109 100.0 100.0
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 inidcaion
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.
The society I live in influences my spending behavior

Percent
Agree 12 11.0 11.0 27.5
Neutral 23 21.1 21.1 48.6

Valid
Disagree 32 29.4 29.4 78.0
Total 109 100.0 100.0

The next statement sought to assess whether the respondents agree with the premise that the
economy of their country has an impact on their spending behavior. Of these respondents, 39.4%
strongly disagreed with the statement, 23.9% disagreed with the statement, 5.5% strongly agreed,
7.3% agreed 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
has any bearing when it comes to their spending behavior.
The economy of the country affects my spending behavior. i.e., rise in prices

Percent
Agree 8 7.3 7.3 12.8
Neutral 26 23.9 23.9 36.7

Valid
Disagree 26 23.9 23.9 60.6
Total 109 100.0 100.0

The next question sought to determine respondent’s reaction of the statement that age determined
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
neutral in their responses.
My age plays a huge role in determining the things I spend on

Percent
Agree 14 12.8 12.8 21.1
Neutral 26 23.9 23.9 45.0

Valid
Disagree 33 30.3 30.3 75.2
Total 109 100.0 100.0

The next question sought to determine whether it is true that the more income one earns, the
more they are inclined to spend. Based on the obtained responses, 41.3% of the respondents
strongly disagreed with the statement, 24.8% disagreed, and 5.5% strongly disagreed, 11%
agreed 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.
The more income I earn, the more I tend to spend

Percent
Agree 12 11.0 11.0 16.5

Neutral 19 17.4 17.4 33.9
Valid
Disagree 27 24.8 24.8 58.7
Total 109 100.0 100.0

The researcher further sought to investigate whether ones level of education has an impact on
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
of education has an impact on the general spending habits.
The level of education I have gotten influences my spending habits

Percent
Agree 15 13.8 13.8 26.6
Neutral 34 31.2 31.2 57.8

Valid
Disagree 23 21.1 21.1 78.9
Total 109 100.0 100.0
Chi-square test
The researcher further ran a chi-square test that was meant to examine the overall factors that
influence the spending behaviors among the respondents.
The basis of using the chi-square test for independence is founded on the need to discover
whether there is a relationship between two categorical variables.
Gender * I am more likely to buy an item if a family member or a friend recommends it
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
the likelihood buying an item recommended by a family member.
Chi-Square Tests
Value Df Asymp. Sig. (2-

sided)
Pearson Chi-Square 5.577a 4 .233

Likelihood Ratio 6.731 4 .151
N of Valid Cases 109
a. 2 cells (20.0%) have expected count less than 5. The minimum

expected count is 3.30.
By reading the above table, focus is on the Pearson chi square row, whereby X (1) =5.577, p= .
233, implying there is no statistically significantly association between gender and the likelihood
of purchase an item that has been recommended by a family member of a friend.
Respondent Income * Do you spend a lot of money on impulse purchases? Crosstabulation
Chi-Square Tests
Value df Asymp. Sig. (2-

sided)
a
Pearson Chi-Square 5.767 8 .673

expected count is .33.
Symmetric Measures
Value Approx. Sig.
Phi .230 .673

Nominal by Nominal
Cramer's V .163 .673
a. Not assuming the null hypothesis.
b. Using the asymptotic standard error assuming the null
hypothesis.
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)

b
Continuity Correction 1.209 1 .272
Fisher's Exact Test .239 .137
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
Value Approx. Sig.
Phi .133 .164

Nominal by Nominal

hypothesis.
In the case of assessing where there is a statistically significant relationship between having
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.
Age of participant * Do you seek financial advice from professionals? Crosstabulation
Chi-Square Tests
Value df Asymp. Sig. (2-

sided)
a
Pearson Chi-Square 3.739 4 .443

expected count is .58.
Symmetric Measures
Value Approx. Sig.
Phi .185 .443

Nominal by Nominal

hypothesis.
In the case of assessing where there is a statistically significant relationship between the age of
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 p value is more than 0.05.
Gender * Do you think it is important to have good financial knowledge? Crosstabulation
Chi-Square Tests
Value df Asymp. Sig. (2- Exact Sig. (2- Exact Sig. (1-
sided) sided) sided)

Continuity Correctionb 1.618 1 .203
Fisher's Exact Test .160 .097
a. 1 cells (25.0%) have expected count less than 5. The minimum expected count is 3.30.
b. Computed only for a 2x2 table
Symmetric Measures
Value Approx. Sig.
Phi -.156 .104

Nominal by Nominal

hypothesis.
In the case of assessing whether there is a statistically significant relationship between the gender
and the need to seek financial assistance among the respondents, X (1) is 2.639, p=.104, an
indication of the fact there is no statistically significant association between the variables
considering that the p value is more than 0.05.
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
Income Do you seek

financial advice
from
professionals?
Income Pearson Correlation 1 -.103
Sig. (2-tailed) .286

N 109 109
Pearson Correlation -.103 1
Do you seek financial advice
Sig. (2-tailed) .286
from professionals?
N 109 109
Correlation between age and whether one will likely purchase an item if it has been
recommended by a family member or friend
Correlations
Age I am more likely

to buy an item if
a family member
or a friend
recommends it
Pearson Correlation 1 -.034
Age Sig. (2-tailed) .723
N 109 109
I am more likely to buy an Pearson Correlation -.034 1
item if a family member or a Sig. (2-tailed) .723

friend recommends it 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 weak, negative correlation between the two variables, one that was not statistically
significant (r=-.034, n=109 and p=.723).
Correlation between the respondent’s highest level of Education, whether they have children and
whether the society I live in influences their spending behavior
Correlations
Highest level of Do you have The society I live
Education children? in influences my
spending
behaviour
**
Pearson Correlation 1 -.271 .118
Highest level of Education Sig. (2-tailed) .005 .223
N 109 108 109

**
Pearson Correlation -.271 1 .018
Do you have children? Sig. (2-tailed) .005 .853
N 108 108 108
The society I live in Pearson Correlation .118 .018 1
influences my spending Sig. (2-tailed) .223 .853

behavior N 109 108 109
**. Correlation is significant at the 0.01 level (2-tailed).

The third Pearson product moment correlation carried out in this analysis sought to assess the
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
Model R R Square Adjusted R Std. Error of the

Square Estimate
1 .237a .056 .047 1.201
a. Predictors: (Constant), Marital Status

b. Dependent Variable: The more income I earn, the more I tend to
spend
The R value is used to represent the simple correlation and in this case is 0.237 which indicates a
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
Model Sum of Squares Df Mean Square F Sig.
Regression 9.201 1 9.201 6.374 .013b
1 Residual 154.451 107 1.443
Total 163.651 108
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
statistically of significantly predict the implication of the variable.
Model Summaryb

Square Estimate
a
1 .092 .008 -.001 1.209
a. Predictors: (Constant), Income

b. Dependent Variable: I am more likely to buy an item if a family
member or a friend recommends it
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
Regression 1.334 1 1.334 .912 .342b
1 Residual 156.483 107 1.462
Total 157.817 108
a. Dependent Variable: I am more likely to buy an item if a family member or a friend

recommends it
b. Predictors: (Constant), Income
From the above regression analysis, it is clear that failed to predict the dependent variable
was not statistically significant, with the p>0.342, which is an indication that the model managed
to statistically of significantly predict the implication of the variable.
Model Summaryb

Square Estimate
1 .150a .022 .013 .784
a. Predictors: (Constant), Age

b. Dependent Variable: Does social media has a huge influence on the
products you buy?
ANOVAa
Regression 1.506 1 1.506 2.452 .120b
1 Residual 65.741 107 .614
Total 67.248 108
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 not predict the dependent variable
was not statistically significant, since p>0.120, which is an indication that the model managed to
statistically of significantly predict the implication of the variable.
Model Summaryb

Square Estimate
a
1 .148 .022 .013 1.196

b. Dependent Variable: I consider my financial situation whenever I go
shopping
ANOVAa
Regression 3.422 1 3.422 2.391 .125b
1 Residual 153.129 107 1.431
Total 156.550 108
a. Dependent Variable: I consider my financial situation whenever I go shopping

From the above regression analysis, it is clear that I did not predict the dependent variable
was not statistically significant, with the p>.125, which is an indication that the model managed
to statistically of significantly predict the implication of the variable.

Model Summaryb

Square Estimate
a
1 .156 .024 .015 1.179

b. Dependent Variable: The economy of the country effects my
spending behaviour. i.e, rise in prices
ANOVAa
Regression 3.719 1 3.719 2.677 .105b
1 Residual 148.630 107 1.389
Total 152.349 108
a. Dependent Variable: The economy of the country affects my spending behavior. i.e., rise in
prices
From the above regression analysis, it is clear that it managed to predict the dependent variable
was statistically significant, with the p>.105, which is an indication that the model did not
manage to statistically significantly predict the implication of the variable.
Conclusion and Recommendations
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
questionnaire was developed based on these factors.

The results of the study indicate that there was no relationship between social-demographic
factors, financial attitude, and literacy spending behaviors of the working adults in the Maldives.
It can thus be concluded that these factors do not have a significant impact on the consumers
when it comes to their purchase decision making. The results demonstrate that age, family,
friends, having children, whether one is married, income 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, do not exhibit a significant impact on adult consumer purchase
decisions.
In the case of future studies, the underlying recommendation is that a larger sample ought to be
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
different factors that influence consumer purchase behaviors.

FYPP Data Analysis DRAFT 3

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FYPP Data Analysis DRAFT 3

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Data Analysis

closely on the spending behavior of the two genders.

Data Analysis Plan

question informing the study.

alternative hypothesis (H1i):

influence the spending behavior of working adults in the Maldives?

The descriptive analysis/ Frequencies

questions that assessed the background and status of the respondents.

under consideration in this analysis.

Frequency Percent Valid Percent Cumulative

Valid 18-23 49 45.0 45.0 45.0

24-29 39 35.8 35.8 80.7

30-34 9 8.3 8.3 89.0

35-39 9 8.3 8.3 97.2

Total 109 100.0 100.0

age of 24 and 29 at 39%.

in the working category.

Frequency Percent Valid Percent Cumulative

MVR 10,000 - 15,000 45 41.3 41.3 41.3

MVR 15,000 - 20,000 21 19.3 19.3 60.6

MVR 20,000 - 25,000 3 2.8 2.8 63.3

MVR 4000 – 9000 29 26.6 26.6 100.0

Total 109 100.0 100.0

I am more likely to buy an item if a family member or a friend recommends it

Frequency Percent Valid Percent Cumulative

Strongly Agree 10 9.2 9.2 9.2

Agree 14 12.8 12.8 22.0

Neutral 31 28.4 28.4 50.5

Strongly Disagree 22 20.2 20.2 100.0

Total 109 100.0 100.0

My personality and lifestyle has a huge impact on the products/services I spend on

Frequency Percent Valid Percent Cumulative

Strongly Agree 7 6.4 6.4 6.4

Agree 6 5.5 5.5 11.9

Neutral 19 17.4 17.4 29.4

Strongly Disagree 41 37.6 37.6 100.0

Total 109 100.0 100.0

The society I live in influences my spending behavior

Frequency Percent Valid Percent Cumulative

Strongly Agree 18 16.5 16.5 16.5

Agree 12 11.0 11.0 27.5

Neutral 23 21.1 21.1 48.6

Strongly Disagree 24 22.0 22.0 100.0

Total 109 100.0 100.0

has any bearing when it comes to their spending behavior.

Frequency Percent Valid Percent Cumulative

Strongly Agree 6 5.5 5.5 5.5

Agree 8 7.3 7.3 12.8

Neutral 26 23.9 23.9 36.7

Strongly Disagree 43 39.4 39.4 100.0

Total 109 100.0 100.0

neutral in their responses.

My age plays a huge role in determining the things I spend on

Frequency Percent Valid Percent Cumulative

Strongly Agree 9 8.3 8.3 8.3

Agree 14 12.8 12.8 21.1

Neutral 26 23.9 23.9 45.0

Strongly Disagree 27 24.8 24.8 100.0

Total 109 100.0 100.0

The more income I earn, the more I tend to spend

Frequency Percent Valid Percent Cumulative

Strongly Agree 6 5.5 5.5 5.5

Agree 12 11.0 11.0 16.5

Strongly Disagree 45 41.3 41.3 100.0