Sunday, March 6, 2011

Statistics of Student Spending

Andrew Iraola
In a recent report from the K Business Stat program, it was found that as ‘K’ students get older; there is a strong link between their level of happiness in shopping, and the amount spent per outings. This is not to say that any grade enjoyed shopping more than the next. The vast majority of ‘K’ students also spend this money on themselves, regardless of age. Spending increases exponentially through the years, with seniors spending an average of $54.70 more than the freshmen per week on average. The main abstract finding of this survey was—as students get older, they typically spend more money, but in a manner that is reflective of all ‘K’ students regardless.
                At first, a strong correlation was found between upperclassmen spending, and the happiness they drew out of it. Looking at spending across each ‘K’ demographic illustrated that the best explanation for this was a higher power in shopping for this age-bracket. Upperclassmen had much more spending on average than the younger section of this sample. With an increase in money to spend, comes more power to shop based off of personal-desire alone.
                However, spending was directed in a similar manner across all four classes at ‘K’. There were similar locations listed as ‘popular spending outlets’, regardless of age in the overall sample. For instance, 78% of the sample listed Meijer as a choice for groceries. ‘Where’ money is spent at ‘K’, does not seem to change during the course of these four years. Nor does the ‘how’, as we can see from the chart to the left. It seems that no matter how much ‘K’ students spend per week, the vast majority of this money is for themselves. The only representative difference between classes from this survey, is ‘how much’ is spent overall. This chart also consequently illustrates this increase overtime. Each number represents an observation, and they increase in age from (1-70) across the bottom. 

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