(Tiểu luận) end module assignmentmodule using data for business final exam questions

Trang 1 UNIVERSITY OF BEDFORDSHIRESCHOOL OF BUSINESS *** FOREIGN TRADE UNIVERSITYHO CHI MINH CITY CAMPUS *** END-MODULE ASSIGNMENTModule: USING DATA FOR BUSINESSCode: BSS004-1.S2 FINAL E

UNIVERSITY OF BEDFORDSHIRE

SCHOOL OF BUSINESS

***

FOREIGN TRADE UNIVERSITY

HO CHI MINH CITY CAMPUS

***

END-MODULE ASSIGNMENT Module: USING DATA FOR BUSINESS

Code: BSS004-1.S2 FINAL EXAM QUESTIONS

Ho Chi Minh City, April 7 , 2023 th

FOR EXAMINER ONLY

Grade (in number):

Headteacher: VO THI THANH HANG

Submission date: April 7th, 2023

Student’s signature:

HO CHI MINH CITY CAMPUS

***

END-MODULE ASSIGNMENT

Module: Using data for Business

Code: BSS004-1.S2

FINAL EXAM QUESTION

Student’s fullname: LAM PHAN NGOC QUYNH Student ID: 2145519061

Ho Chi Minh City, April 7 , 2023

STATEMENT OF AUTHORSHIP

Except where reference is made in the text of the end-moduleassignment, this assignment contains no material published elsewhere orextracted in whole or in part from an assignment which I have submitted

or qualified for or been awarded another degree or diploma

No other person’s work has been used without dueacknowledgements in the end-module assignment

This end-module assignment has not been submitted for theeveluation of any other modules or the award of any degree or diploma

in other tertiary institutions

7th, 2023

signature and fullname Lâm Phan Ngọc Quỳnh

I INTRODUCTION

In order to better understand people's spending and income patterns, the Bank of England conducts annual surveys of its population Based on this data, the English financial institution may be able to comprehend the potential of the local market It is crucial to determine the correct client segmentation in 2021, when the globe is still reeling from the disastrous effects of the Covid 19 pandamic, in order

to concentrate our efforts and market the best products

FINANCIAL ANALYSIS AND DECISION.

In order to decide which loans our bank should promote and which people

we should concentrate on, it can be helpful to look at the overall landscape of our potential consumers (i.e who they are, how old they are, where they reside, what they do for a living, etc.)

It is possible for us to ascertain the employment status of UK nationals because the findings of several polls show that a person's job has the largest impact

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on their income In the UK, the proportion of people who are employed is just slightly higher than the proportion who are not Individuals who lack a stable

source of income or are looking for job are considered to be unemployed (students,students, retirees, disabled people ) This bank should pay particular attention to the numerous background checks on loan documentation to ensure they have the resources to repay the money they have borrowed Even yet, the majority of peopleput in more than 30 hours per week, showing that it is still possible for clients to earn a consistent income

The table demonstrates that the median income is comparable throughout all nine of the UK's regions, with the exception of London and the South East Londonhas a strong middle income relative to the rest of the UK, whilst the South East

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figure is roughly £8000 lower Also, the rest of the UK has a similar pattern of income distribution, with the lowest median earnings found in the North/Yorks & Humberside and the Southwest, respectively.

The lines in the graph demonstrate that the majority of people opt to purchase homes in installments In order to help many people pay their mortgages, bank workers can advise them on loans with affordable interest rates

The statistical figure shows that people in the UK start saving for themselvesearly in life, and it is simple to notice the significant difference between saving andspending between the ages of 18 and 24 Savings tendencies usually decline as people get older and then marginally increase again in their 60s.

People in middle age frequently spend a lot of money on their daily necessities, in contrast to the 18 to 24 age groups, while their income appears to be

a barrier that makes this age difficult, certain issues In this situation, the Bank might also provide some sort of lending service to aid people in resolving their own financial issues

The Interval Estimation Data allow us to calculate an approximate annual income for each of the nine areas' inhabitants The income for those aged 35 to 44 ranged from £31,966 to £35,969, or a minimal change of 95% of the previous year's earnings In accordance with the figures, we can also observe that their average yearly income is £33968, which translates to an average monthly income

of £2830 and is considerably less than their annual expenditure of more than

£4250

Each family's financial situation is significantly impacted by the income of its members If we are to make progress, we must first determine their typical source of income and expenditures We will use the hypothesis test to examine theclaim that the mean UK household income, which was derived using the income

of the respondents and one of their partners, is actually what it is supposed to be This is the precise premise:

As previously indicated, the mean hypothesis will examine how much money on average a group of people with a high social grade (specifically A) makes in comparison to the entire UK

Since our P - Value is less than 5%, we reject the Ho As a result, the median household income in the UK is more than £27,400, meaning that the average income of people with a social class A is higher than the national average From this information and details of British spending behavior, one can calculate the amount as well as terms and conditions that the average resident might feel comfortable using.

Although there is a growing need for financial services in the UK, pay in this industry are fairly high when compared to the average salaries for other professions London stands out in particular since it has seen considerable economic expansion and remarkable social development There have also been tremendous advancements in other industries, reflecting both the productivity of the workforce and the high wages they receive As a result, the households in this region have very solid financial situations, which is necessary for the quick and significant growth of banking and financial services This demonstrates

emphatically how socioeconomic class affects a region's capacity for development

Those who are non-working, such as students, retirees, etc., will cease spending if they believe they won't be able to pay off their debts in the future due

to their financial status The database needed to distinguish between those who are employed and those who are unemployed will be comprised of the categories indicated below

Ho is rejected because the P-value for the data is less than 5% It is clear from their erratic financial situations that more than 20% of these people will stop spending if they are unable to meet their desired credit and loan needs.

We will build data on the level of debt of the aforementioned age groups by taking m1 as the minimum borrowing of the 18 to 24 age group and m2 as the minimum borrowing of the 65 and older age group

P-value is less than 5%, reject Ho, and m1>m2 suggests that those in their 18–24 year bracket spend more money and have more debt than those in their 65–plus year bracket

Adolescents at this stage of development frequently spend money on both necessities and non-essentials When they need to learn how to be financially independent, whether it is a loan for college, a place to rent, a phone to buy, or many other things It explains why clients between the ages of 18 and 24 are responsible for the sharp rise in the number of service contracts One of their most common possibilities is bank loans, therefore numerous reasonable loan services are provided as the ideal choice.

The study below compares homeowners with those who have previously made installments to ascertain whether persons with social grade A are more likely to be homeowners ( London ).

Because a P-value greater than α (45.13% > 5%) makes it evident that the hypothesis cannot be rejected, those with level A social standing in London will own all of the property.

As can be observed, Ho is rejected with a 95% confidence level because the P-value is less than 0.05 As a result, the influence of various industries will result

in disparate incomes

Based on the data analyzed, we evaluate that the factors affect the total loanscan be determined as age and income per month To be specific, with the age factor, the loans payments are showed off as a negative side And the income per month factor affect as positive side

III RECOMENDATION

1 Through testing, I found that a person's income significantly influenced their financial decisions And because London is a prosperous city with a high average income, it is a desirable location

A person needs to buy luxury goods more when their wealth increases

because they want to better their lives by learning how to buy a house,

a car, etc They'll also need to be borrowed Also, given its large revenues, the Bank could not possibly care too much about risk

2 Since homeowners still have their homes as security, we may provide them with consumer and auto loans to entice them to buy more real estate The average homeowner spends a lot of money

3 The people who are getting close to retirement and parents who are aging are our best customers in the long-term savings and health insurance sectors, so we should provide them with such safe services

IV REFERENCE:

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