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Statistical Tools

Objectives and Tools

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RAMEL OÑATE
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69 views2 pages

Statistical Tools

Objectives and Tools

Uploaded by

RAMEL OÑATE
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Statistical Tools

1. To assess the extent of students' financial literacy:


Descriptive Statistics: Descriptive statistics such as mean, median, and
standard deviation can be used to summarize the level of financial knowledge and skills
among students. This will provide insights into the overall proficiency of students in
making informed financial decisions.
2. To analyze the budgeting habits of Grade 11 ABM students:
Frequency Distribution: Frequency distribution can be used to analyze how
Grade 11 ABM students allocate their daily allowance across different categories such
as food, fare, school contribution, and school supplies. This will help identify the most
common expenditure patterns among students.
Comparative Analysis: Comparative analysis techniques such as t-tests or
ANOVA can be employed to compare the budgeting habits of students across different
categories. This will allow for the identification of any significant differences in spending
behavior among students.
3. To evaluate the impact of financial literacy programs on daily allowance expenditure:
Regression Analysis: Regression analysis can be utilized to examine the
relationship between participation in financial literacy programs and daily allowance
expenditure on various categories such as food, fare, school contribution, and school
supplies. This will help determine whether participation in such programs influences
students' spending behavior.
Correlation Analysis: Correlation analysis can be used to assess the strength
and direction of the relationship between participation in financial literacy programs and
daily allowance expenditure. This will provide insights into the association between
program participation and spending habits.
By employing these statistical tools, the study aims to comprehensively assess
students' financial literacy levels, analyze their budgeting habits, and evaluate the
effectiveness of financial literacy programs in influencing their spending behavior.
The mean is the average and is computed as the sum of all the observed outcomes
from the sample divided by the total number of events. We use x as the symbol for
the sample mean. In math terms,

where n is the sample size and the x correspond to the observed valued.
Here,
xi = observation, 1 ≤ i ≤ n
∑xi = Sum of observations
n = Number of observations

Weighted Mean – this statistical measure was used to determine the extent

or degree of the skills developed by respondent’s study habit. With the use

of the five point Likert scale, the responses of the respondents were

obtained. The formula was:

fx
mw = N

Where:

mw = weighted mean
fx = the product of the Frequency and weight of
responses
N = number of respondents or cases
x = weight

Percentage:
P= Frequency
total respondents X 100

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