SPSS EXAM

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School

Eastern Michigan University *

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Course

610

Subject

Statistics

Date

Feb 20, 2024

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Uploaded by lawlblaze

1. What percentage of the respondents in the survey are men what percentage of the respondents are women? 44% are men and 56% are women. 2. What is the most common college major of respondents in the survey? How many respondents had this as their major? Marketing is the most common major with 17 respondents. 3. Is there a significant difference between men and women and their plan to participate in the 401K plan right now? If there is a significant difference between men and women, which gender group is significantly more likely to participate in the 401K plan right now? What analysis did you run to analyze this question? There is no statistical significance between men and women and their plan to participate in the 401k. I ran an independent T test analysis. 4. Is there a significant difference between the different degrees people majored in for college and their plan to participate in the 401K plan right now? If there is a significant difference between the degrees that people majored in for college, which degree major had significantly more participants likely to participate in the 401K plan right now? What analysis did you run to analyze this question? There is no statistical significance between a major in college and their plan to participate in the 401k. I ran an independent T test analysis. 5. What is the average score of respondents who plan to participate in the 401K plan right now (use the descriptives options in SPSS to make sure you select means to get this average score)? The average nation score of those who plan to participate in the 401K plan of their company right now is 1.7? Is there a significant difference between our sample of respondents who plan to participate in the 401K plan right now and the national standard level for participating in a 401K of other companies with an average of 1.70? What analysis did you run to analyze this question? The average score for the respondents who plan to participate in the 401K is 2.28. There is a statistical significance. I ran a one sample T-test with a test value of 1.7

6. Is there a significant difference between those who took 1 or fewer finance courses in college and those who took more than 1 finance course and their plan to participate in the 401K plan right now? If there is a significant difference between individuals taking finance courses and their plan to participate in the 401K plan this year, are those who took more or fewer finance classes significantly more likely to participate in the 401K plan right now? What analysis did you to analyze this question? There is a statistical significance between those that took finance courses and their plan to participate in the 401k plan. Those that low 1 or less were less likely to participate in the 401k. I ran a independent T test analysis. 7. Is there a significant correlation at the significant p level of .01 (check the number of stars for significance levels of .01 or .05) between any of the following four variables: Plan to participate in the 401k plan right now, Ability to make financial decisions without assistance, Ability to determine amount of money needed in retirement, and Rating of knowledge of interest rates, finance charges and credit rates. If there are any correlations between variables at the p level of .01, which variables are correlated and is the correlation positive or negative? There is a correlation (at the .01 p level) between making financial decisions without assistance and if they can determine how much money they will need at retirement. The correlation is positive. I ran a bivariate analysis set to pearson. 8. Do any of the following three variables (Ability to determine amount of money needed in retirement, Years of work experience and Rating of knowledge of interest rates, finance charges and credit rates) significantly predict ability to make financial decisions without assistance at the significant p level of .05. If any of the variables significantly predict ability to make financial decisions without assistance, please interpret the relationship between these variables (i.e higher confidence in personal financial knowledge significantly predicts ability to make financial decisions without assistance). Remember to check the scale of the survey to insure you make the correct interpretation of the relationship between the variables). What analysis did you use to analyze this question? A statistically significant relationship exists between the ability of an individual to determine the amount of money they will require for retirement and their ability to make independent financial decisions. The analysis showed that there is a large and positive beta coefficient value, indicating that those who can estimate their retirement needs are less likely to require assistance with financial decision-making. I ran a linear regression analysis. 9. Do any of the following four variables (Ability to make financial decisions without assistance, Ability to determine amount of money needed in

retirement, Years of Work Experience and Rating of knowledge of interest rates, finance charges and credit rates) significantly predict Plan to participate in the 401k plan right now at the significant p level of .05. If any of the variables significantly predict plan to participate in the 401K plan right now, please interpret the relationship between these variables (i.e higher confidence in personal financial knowledge significantly predicts greater interest in participating in the 401k plan right now). Remember to check the scale of the survey to insure you make the correct interpretation of the relationship between the variables). What analysis did you use to analyze this question? There is statistical significance in the relationship between years of work experience, the ability to determine the necessary retirement savings, and the likelihood of participating in a 401k plan. Years of work experience have a negative correlation with participation, meaning that individuals with fewer years of experience are less likely to participate in a 401k. Conversely, the ability to determine the necessary retirement savings has a positive correlation with participation, indicating that individuals who have a better understanding of how much money they will need at retirement are more likely to participate in a 401k. I ran a linear regression analysis. 10. A training program outlining the benefits of enrolling in the retirement program is conducted by the company. The purpose of the training is to encourage more employees interest interested in participating in the 401k plan right now to participate sometime in the future in the retirement plan. Is there a statistically significant difference following the training program between employee interest in participating in the 401k plan right now and enrolling in the future in the retirement plan? What analysis did you use to analyze this question? There is a statistical significance between participating in the 401k and future enrollment in the retirement plan. Those who participate in the 401k plan are more likely to enroll in the retirement plan. I ran a paired sample t test.

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