Descriptive Analysis of Quantitative Methods

This document provides a descriptive analysis of quantitative methods, including statistics and summaries of average monthly income, monthly entertainment expense, monthly groceries and shopping, and monthly internet expense.

Running head: QUANTITATIVE METHODS
Qualitative Methods
Name of the Student
Name of the University
Course ID

1QUANTITATIVE METHODS
Table of Contents
Descriptive analysis.........................................................................................................................2
References........................................................................................................................................6

2QUANTITATIVE METHODS
Descriptive analysis
Table 1: Descriptive statistics for Average Monthly Income
Monthly average Income
Mean 2975
Standard Error 236.30
Median 3000
Mode 3000
Standard
Deviation 1056.75
Sample Variance
1116710.5
3
Kurtosis -0.33
Skewness 0.12
Range 4000
Minimum 1200
Maximum 5200
Sum 59500
Count 20
The descriptive statistic of ‘Average Monthly Income’ suggests that mean income of the
respondents is $2975. That means people on an average earn $2975 in a month. The standard
deviation of average income is 1056.75. The standard deviation of income is lower than the
average monthly income meaning there is not much variation in average monthly income
(Gravetter and Wallnau 2016). The highest and lowest monthly income are respectively $5200
and $1200.

3QUANTITATIVE METHODS
Table 2: Descriptive statistics for Monthly Entertainment Expense
Monthly Entertainment Expense ( Netflix, Movie, Eating
out)
Mean 343
Standard Error 29.57
Median 337.5
Mode 400
Standard Deviation 132.22
Sample Variance 17482.63
Kurtosis -1.12
Skewness 0.19
Range 440
Minimum 160
Maximum 600
Sum 6860
Count 20
The descriptive statistic of ‘Monthly Entertainment Expense’ suggests that mean
entertainment expense of the respondents is $343. That means people on an average spends $343
on entertainment. The expenditure on entertainment is 11.53 of average income. Obtained
standard deviation of average expenditure on entertainment is 132.22. The standard deviation of
expenditure is lower than the average spending on entertainment implying that there is not much
variation in Monthly Expense on Entertainment. The minimum and maximum monthly spending
on entertainment are respectively $160 and $600.
Table 3: Descriptive statistics for Average Monthly Expenditure On Groceries and
Shopping
Monthly Groceries and Shopping
Mean 185
Standard Error 14.46

4QUANTITATIVE METHODS
Median 190
Mode 200
Standard Deviation 64.67
Sample Variance 4181.58
Kurtosis -0.52
Skewness 0.50
Range 200
Minimum 100
Maximum 300
Sum 3700
Count 20
The summary statistics of ‘Monthly Groceries and Shopping’ suggests that mean income
of the respondents is $185, which is smaller than expenditure on entertainment. The survey
statistics thus suggests on an average people spend $185 on groceries and shopping. The share of
average expenditure on groceries and shopping is half that of expense on Entertainment
indicating people give a high priority to the entertainment expense (Zezza et al. 2017). Obtained
standard deviation of average expenditure on groceries and shopping is 64.67. The standard
deviation of expenditure is lower than the average spending on groceries and shopping implying
that there is not much variation in monthly expense on groceries and shopping. The highest and
lowest monthly expense on groceries and shopping are respectively $300 and $100.
Table 4: Descriptive statistics for Average Monthly Expenditure On Internet
Monthly Internet expense
Mean 41.7
Standard Error 4.18
Median 38
Mode 24
Standard Deviation 18.70
Sample Variance 349.69
Kurtosis -0.88
Skewness 0.63

5QUANTITATIVE METHODS
Range 60
Minimum 20
Maximum 80
Sum 834
Count 20
The summary statistics of ‘Monthly Internet Expense’ suggests that mean expense of the
respondents on entertainment is $41.7, which is the smallest among three expenditure categories.
The survey statistics thus suggests on an average people spend $41.7 on Internet. The share of
internet expense in the total monthly income is only 1.40 percent. This in turn suggests that
people value Internet after entertainment and groceries. Obtained standard deviation of
expenditure on Internet is 18.70. As the average spending on Internet is larger than the obtained
standard deviation spending on Internet does not vary much among the households. People spend
as high as $80 and as low as $20 on Internet.

6QUANTITATIVE METHODS
References
Gravetter, F.J. and Wallnau, L.B., 2016. Statistics for the behavioral sciences. Cengage
Learning.
Zezza, A., Carletto, C., Fiedler, J.L., Gennari, P. and Jolliffe, D., 2017. Food counts. Measuring
food consumption and expenditures in household consumption and expenditure surveys (HCES).
Introduction to the special issue. Food Policy, 72, pp.1-6.