Introduction
Research has indicated that the young generation is increasingly being obsessed by music. Most young people view music as their major source of entertainment, and they will spend most of their leisure time listening to it. The kind of music they listen to varies greatly with age and preference. Most youngsters will spend a considerable amount of money buying CD’s in order to listen to their favorite music. Research has shown that most CD’s are purchased by youngsters who belong to the 13 – 18 years age group.
This essay is going to evaluate and analyze the amount of money spent on CD’s with reference to youngsters belonging to 13 and 18 years age groups.
Data sample and collection
Youngsters of ages 13 and 18 were used as the data sample for the research. The sample was selected because they belong to the teenager’s age group. This was done in order to obtain a small variation in data variance (Lind et al, 2011). The 13 years age group was selected because most of them are starting to experience the adolescent stage. Also, the 18 years age group sample was selected in order to evaluate their spending pattern on music CD’s. Such an age group is in the transition stage of going into adulthood, and their spending pattern will vary slightly compared with the 13 years age group.
Data analysis and interpretation
A total of 60 youngsters were studied in order to determine the amount of money in USD they spent on CD’s last year. Of the 60 respondents, 30 belonged to the 13 years age group while the remainder belonged to the 18 years age group. In both cases, the number of females was equal to the number of males. This was done in order to avoid the bias in the sample (McClave et al, 2011). The research also sought to find out the various sources of money for the different age groups.
The following table indicates a summary of the data collected
The 13 years age group.
The 18 years Age group.
From the above analysis, it is evident that, the male youngsters spent a considerable amount of money on buying CD’s compared to their female counterparts. The data also represented a small variance measure which indicates a positive correlation between the two samples (Lind et al, 2011).
Conclusion
In conclusion, it is evident that the male youngsters were the most spenders on CD’s last year. More secular music CD’s were bought by both samples compared to gospel and other type of music. This directly underpins the fact that, youngsters are ready and willing to spend a considerable amount of money in buying CD’s.
Reference List
Lind, D. A & Marchal, W. G & Wathen, S. A. (2011). Basic statistics for business and Economics. New York, NY: McGraw-Hill/Irwin.
McClave, J. T & Benson, P. G & Sincich, T. (2011). Statistics for business and economics. Boston, MA: Pearson-Prentice Hall.