Comparison of four days of the week.
Author: Aakanksha Gupta
Introduction:
This is a survey on people’s favorite day of the week, which can reveal interesting insights into their lifestyle, personality, and overall outlook on life. It can help us understand how people perceive the days of the week and what factors contribute to their preferences. Some possible reasons why people might prefer a particular day of the week could include their work schedule, social activities, religious practices, or personal preferences.
Objective:
To compare four days of the week and to test the hypothesis.
H0: All are same
H1: Anyone is different.
Literature Review:
• The names of the 7 days of the week in most Latin-based languages come from the Roman calendar, which related each day with 7 celestial bodies considered to be gods: the Sun, the Moon, Mercury, Venus, Mars, Jupiter, and Saturn.( Hocken and Buckle,2020)
• Aside from documenting significant day of the week effects, the implications of the results for tests of market efficiency are examined. While market-adjusted returns continue to exhibit day of the week effects, these effects are no longer concentrated on Monday.( Gibbons and Hess, 1981)
Data Collection:
The data was collected in the class and asked student’s to rate the days of the week on the scale of 1-10.
Data Analysis:
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 131.7687 3 43.92292 6.44028 0.000386 2.662569
Within Groups 1063.925 156 6.820032
Total 1195.694 159
Conclusion:
As calculated F is more than table F, Reject H0, Accept H1, which means anyone of them is different.
Reference:
• Vigdis Hocken and Anne Buckle, The 7 Days of the Week, Timeanddate, 2020.
• Michael R. Gibbons and Patrick Hess, Day of the Week Effects and Asset Returns,The Journal of Business, Vol. 54, No. 4, Oct., 1981.