Title: EXPERIENCE OF SPENDING PATTERN SURVEY
Author: Shivpal Singh, Anand Kumar, Pratik Somani
Introduction: In the realm of economic analysis, a spending pattern survey is a vital instrument that delves into how individuals allocate their financial resources. This survey provides a snapshot of consumer behaviour, revealing trends, preferences, and influencing factors in spending decisions. By examining diverse demographics and economic variables, this tool assists businesses, policymakers, and researchers in making informed decisions, shaping economic policies, and understanding the nuances of modern consumption habits.
Objective: Understand the underlying phenomenon of spending their money by UPI.
Literature Review/ Views and Reviews:
“Saving and Spending Trends among Youth” (IJRCS).
This study talks about to study the segment wise saving & spending habits of three groups (school, graduation, post-graduation) of students in Sirsa city.
To study gender wise saving & spending of the students.
Data Collection: For the given problem five questions were framed on Likert scale.
We have decided to investigate the statements by means of an online survey where we collected survey from 100 students of ITM.
For every question, the mean, standard deviation, standard error, and t-stat were calculated. This data was primarily collected by us.
Data analysis:
H0: µ=3
H1: µ≠3
|
|
Mean |
Standard Deviation |
Standard Error |
T- Stat |
|
Q1 |
4.28 |
0.85 |
0.09 |
15.21 |
|
Q2 |
3.73 |
1.17 |
0.12 |
6.28 |
|
Q3 |
3.57 |
1.16 |
0.12 |
4.93 |
|
Q4 |
3.57 |
1.08 |
0.12 |
5.30 |
|
Q5 |
4.44 |
0.66 |
0.07 |
21.93 |
Conclusion:
Ques 1- Do you use UPI daily?
Result- For question 1 accept the alternative hypothesis as t-stat = 15.21 which is more than 1.96. t-statistic provided is 15.21, it falls within the range of -1.96 to 1.96, we conclude that people are positive regarding the alternative hypothesis. people are positive regarding the use of UPI daily. There’s strong positive sentiment indicated by the data.
Ques 2- Are you able to track the expenses that you making through UPI?
Result- – For question 2 accept the alternative hypothesis as t-stat = 6.28 which is more than 1.96. Since the t statistics is between -1.96 and 1.96, people are positive regarding they are able to track the expenses that they are making through UPI. There’s strong positive sentiment indicated by the data.
Ques 3- Are you able to get the available balance after every transaction that is made through UPI?
Result- For question 3 accept the alternative hypothesis as t-stat = 4.93 Since the t statistics is between -1.96 and 1.96, people are positive regarding that they are able to get the available balance after every transaction that is made through UPI. There’s strong positive sentiment indicated by the data.
Ques 4 – Do you feel every month that your account balance is low?
Result- For question 4 accept the alternative hypothesis as t-stat = 5.30 which is more than 1.96 Since the t statistic falls between -1.96 and 1.96, people are positive regarding the feeling of their account balance is low every month. There’s strong positive sentiment indicated by the data.
Ques 5- Is UPI comfortable for payment?
Result- For question 5 accept the alternative hypothesis as t-stat = 21.93 Since the t statistic is between -1.96 and 1.96, people are considered positive regarding UPI comfortable for payment. There’s strong positive sentiment indicated by the data.
References:
http://www.ijstm.com/images/short_pdf/1473320828_402_IJSTM.pdf
https://ijrcs.org/wp-content/uploads/201803003.pdf