Week 4 Assignment – Final Graphs

Yahoo! The sweet smell of victory, that’s how I felt while writing this post.

I completed my graphs for the final assignment, and boy! Did I have fun playing with the Code! 🙂 So here is the final program code Code_AssignmentW4 and the output charts W4-AGT-results.

To recap, my original research questions were:

  • How many people in the age group 25-34 still feel achieving the American Dream (owning a home, achieving secure financial retirement, sending kids to college, etc. ) is possible and how strongly do they believe it?
  • Is it stronger based on sub-groups ie. marital status or gender?

So my program filters the data from the original codebook, and includes only survey respondents of the age group 25-34 using the following code snippet:

IF PPAGECAT=2;

A composite variable “WEALTH_CONF” was created combining the sum of 3 variables : W1_F4_B, W1_F4_D and W1_F5_A . These variables each could have only 4 options namely, Very hard (1),  Somewhat hard (2), Somewhat easy (3), Very easy (4). To make the computation and graphs easier, each individual variable was bundled into smaller answer categories Hard =1 or Easy=4. Code snippet below:

/* collapsing marriage status categories into 2 categories under new variable “MARG”
Combining option 1 = “married” and 6 = “living together” as MARG = 1;
Marking missing values “-1” and “-2” as “.” to denote missing for MARG
all other options marked as 2 under single */
IF (PPMARIT = 1 OR PPMARIT = 6) THEN MARG =1 ;
/* ELSE IF (PPMARIT = -1 OR PPMARIT = -2) THEN MARG =, ; */
ELSE MARG = 2;

/* collapsing W1_F4_B categories into 2 categories
Combining option 1 OR 2 INTO W1_F4_B = 1;
OPTION 3,4 MARKED AS 4 */
IF (W1_F4_B = 1 OR W1_F4_B = 2) THEN W1_F4_B =1 ;
ELSE IF (W1_F4_B = 3 OR W1_F4_B = 4) THEN W1_F4_B =4 ;

/* collapsing W1_F4_D categories into 2 categories
Combining option 1 OR 2 INTO W1_F4_D = 1;
OPTION 3,4 MARKED AS 4 */
IF (W1_F4_D = 1 OR W1_F4_D = 2) THEN W1_F4_D =1 ;
ELSE IF (W1_F4_D = 3 OR W1_F4_D = 4) THEN W1_F4_D =4 ;

/* collapsing W1_F5_A categories into 2 categories
Combining option 1 OR 2 INTO W1_F5_A = 1;
OPTION 3,4 MARKED AS 4 */
IF (W1_F5_A = 1 OR W1_F5_A = 2) THEN W1_F5_A =1 ;
ELSE IF (W1_F5_A = 3 OR W1_F5_A = 4) THEN W1_F5_A =4 ;

/* CREATING A COMPOUND VARIABLE – wealth_conf */
WEALTH_CONF = SUM (OF W1_F4_B W1_F4_D W1_F5_A);

LABEL WEALTH_CONF = “Wealth Confidence”;

After computations, the final frequency distribution table and chart for this wealth_confidence are shown below:

Wealth Confidence
WEALTH_CONF Frequency Percent Cumulative
Frequency
Cumulative
Percent
3 147 53.26 147 53.26
6 77 27.90 224 81.16
9 31 11.23 255 92.39
12 21 7.61 276 100.00
Frequency Missing = 13

 

Wealth confidence frequency distribution

Wealth confidence frequency distribution

 

The univariate graphs for the 3 individual variables are shown below:

wealth-achieve

 

Sec_retire

 

home-ownership

The three graphs above show significantly more people chose the “hard” or “relatively Hard” options.

The graphs below show the wealth_confidence based on marital status helps us understand if there are any differences in survey responses between (a) single and married population, where 1 = married/living together and 2 = single/ widowed/ separated/ divorced (b) gender differences, where 1 = male and 2 =female

wealth-conf-gender

Conclusions from the gender based graph :

  1. From this graph, we can clearly see that both men and women had overwhelmingly lower confidence about achieving their financial goals.
  2. Women necessarily had higher percentages for all answers, since the total number of women was much higher than the number of men in this particular age group.

wealth-conf-marital-status

Conclusions from the marital status based graph :

  1. From this graph, there was no particular patterns in which group thought achieving these goals was relatively hard or easy and the answers varied for each option.
  2. However, we can clearly see that both single and married people had overwhelmingly lower confidence about achieving their financial goals.

Final Answers:

  1. All the people in the age group 25-34 still felt it was hard to achieve the American Dream (owning a home, achieving secure financial retirement, sending kids to college, etc. ) and displayed low levels of confidence in attaining the goal. This answers the first research question : People are NOT confident about wealth goals!
  2. There were no differences based on sub-groups ie. both married and single, male and females felt that reaching financial success was going to be a hard struggle.  This answers the second research question : There are NO differences when it comes to achievement of wealth goals!

Again, the final program code is in the file Code_AssignmentW4 and the output charts are located at W4-AGT-results.  The code includes steps on how the charts were generated. Please take a look and leave your feedback.

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