102ACC– Statistical Analysis for Accountancy and Finance
CourseworkAssignment 2 – Survey Analysis
Aimsof the investigation
Inevery research, there has to be a purpose. The reasons behind anyresearch act as a guide to the researcher to pursue the relevantgoals. The main aim of the study was to offer an authoritative reporton the monetary stand of the higher education (HE) students inEngland and Wales in the academic year 2011/12. In so doing, thestudy would give a baseline against which to measure changes to thesupport package of students’ financial power from 2012/13. In thisreport, the following summarize the objectives:
The report seeks to examine the viability of the detailed information provided on the income, expenditure and debt levels of students of higher education in Wales and England
To investigate a larger and more memorable spending that is captured in the main survey as well as daily spending recorded in the diary of a seven-day spending
To highlight a baseline for examining the effect of changes in student finance, this was introduced in 2012 for the first year student in the 2012/13 financial year.
Inachieving the highlighted aims, the report will seek to test ahypothesis. A hypothesis clearly states what needs or what isintended to be investigated. In this study, we formulate a nullhypothesis and an alternative hypothesis. They are as follows:
H0:The information provided in the survey properly mirrors a correlationbetween income, expenditure and debt levels of students
H1:The information provided in the survey does not mirror anycorrelation between income, expenditure and debt levels of students
Thestudent income and expenditure survey 2011/2012 was commissioned by ajoint effort of the Department for business, Innovation and Skill andthe Welsh government. In this section of the report, a generalbackground research of the UK student population in 2011/12 isconducted. The section will highlight the population numbersregarding size, social and ethnic backgrounds among others.
Inregards to a report by Higher Education Statistics Agency (HESA)(2013), there was a total of 163 institutions of higher Education inthe United Kingdom in academic year 2011/2012. These institutionsregistered approximately 2.5 million students. Among them, thosestudying first degree who are highly represented in the survey weretotaling to 1.5 million while those studying other undergraduatedegrees were 0.4 million (Hesa.ac.uk,2016).This included students studying in regards to qualifications such asnational certificates, higher diplomas, and foundation degrees. Postgraduate students totaled 0.55 million (Filippakou,Salter, and Tapper, 2012).The higher education sector in the UK was defined by the academicyear 2011/2012. It was marked by global economic uncertainty, changesin demographics, and the introduction of essential changes to thefunding of undergraduate students as well as student immigration.Between these years, the number of full-time students augmented byover 44000, however, the number of part-time students decreased byover 48000. One area that witnessed a significant change is theinvolvement of the UK-domiciled undergraduate students who study parttime.
Asthe level of undergraduate expanded, there was also growth in studentnumbers from an increase in the number of International studentsstudying at universities in the UK. Compared to 2003/2004 wherenon-EU students made up only 8.6% of all students, in 2011/12, it hadrisen to 12.1%. Additionally, the percentage of students from therest of the EU improved from 4.2% to 5.3% through the period(SAUNDERSand LEVIN, 2009).Nevertheless, even after these changes, the foreign students stillencompass relatively small percentage of the total students. In thisperiod, ethnicity was registered to be 97.9% of the United Kingdomdomiciled first-year students doing their undergraduate degree,whereas 96.1% comprised of the domiciled first year undergraduate inthe UK. In 2011/12, female comprised of 56% of all the students(Hesa.ac.uk,2016).Within the 56%, there was some disparity in the study level: at thelevel of first degree, about 55% of the students were female while atgraduate level, women comprised of 47%. In the same way, there wasdisparity by domicile (Filippakou,Salter, and Tapper, 2012).
Regardingfunding, income from the student loan for maintenance for full-time,students accounted for about a quarter of the average total incomefor the year 2011/12. The survey reports that 73% of students onfull-time program took out the loan for maintenance. Students frommanual social class received extra income from sources of studentsupport such as grants, loans, and bursaries than those withmanagerial or professional social class foundation. However thesocial managerial class received more in contributions from theirfriends and family than those from routine work upbringings(Hesa.ac.uk,2016).
Thissection has highlighted the aims of the research to be investigatedas well as the main hypothesis to be tested. The principal purpose ofthe research was to offer an authoritative report on the monetarystand of the higher education (HE) students in England and Wales inthe academic year 2011/12. The section has also highlighted facts andfigures concerning the student population in the UK during theacademic year 2011/12. In a nutshell, there was a total of 163institutions of higher Education in the United Kingdom in academicyear 2011/2012.
Filippakou,O., Salter, B. and Tapper, T. (2012). The Changing Structure ofBritish Higher Education: How diverse is it?. TertiaryEducation and Management,18(4), pp.321-333.
Hesa.ac.uk.(2016). HESA- Higher Education Statistics Agency – HESA – Higher EducationStatistics Agency.[online] Available at:https://www.hesa.ac.uk/component/content/article?id=3129 [Accessed 20Mar. 2016].
SAUNDERS,P. and LEVIN, E. (2009). STUDENT INCOME AND EXPENDITURE: THE RESULTSOF A SURVEY AT THE UNIVERSITY OF STIRLING, 1974. OxfordBulletin of Economics and Statistics,38(1), pp.51-66.