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Table 2: Descriptive Statistics

Factors N Mean SD

CorrelationPower-Prestige

Perception for Money Retention

Feeling of Distrust

Anxiety on Money Matters

Power-Prestige 40 3.10 .836 1 -.128 .017 .156Anxiety on Money Matters

40 4.99 .793 -.128 1 .363* .110


40 5.55 .419 .017 .363* 1 .132

Feeling of Distrust 40 4.89 .759 .156 .110 .132 1

Table 3: Results of Regression AnalysisDependent Variable Total R

For Equation R2 Adj. R2 F Sig. Beta t

Power-Prestige .333 .111 .088 4.746 .036 -.333 -2.179Perception for Money Retention

.409 .168 .146 7.652 .009 .409 2.766

Feeling of Distrust .181 .033 .007 1.290 .263 .181 1.136Anxiety on Money Matters

.463 .214 .194 10.368 .003 .463 3.220

Table 1: Gender-wise Statistics

Gender Power-Prestige

Anxiety on Money Matters


Feeling of Distrust

MALE Mean 3.38 4.63 5.38 4.76N 20 20 20 20Std. Deviation .740 .764 .327 .659

FEMALE Mean 2.83 5.35 5.72 5.03N 20 20 20 20Std. Deviation .853 .655 .439 .841

Total Mean 3.10 4.99 5.55 4.89N 40 40 40 40Std. Deviation .836 .793 .419 .759

RESEARCH METHODOLOGY AND SAMPLE SIZE

This research involves empirical testing of hypotheses through regression analysis. Based on

the objectives of the present study, the research design is exploratory in nature. Exploratory

research design aims at collecting data afresh for the current study purposes only. Descriptive

research intended to elucidate the data and primary characteristics about the variables and

respondents. The sample size is 40 i.e. 20 girls and 20 boys pursuing MBA and B.Tech

course. The students were randomly survey in the class to get their responses for their money

attitudes

DATA ANALYSIS AND RESULTS

Considering results of table 1, students have given maximum score to the factor; Feeling of

Distrust (5.55). This implies students remain very concerned about the price they pay for the

purchase of articles. Girls (5.72) are better at towards their feeling of distrust as against boys

(5.38). Girls are found to be more suspicious about the price of the items they purchased or

shall be purchasing.

Students have given second highest score to the factor; Perception for Money Retention,

indicating that they possess better attitude towards saving money for future. They believe in

financial planning for future. They even wished to save for bad phase of life. Girls (5.35) are

far better in doing financial planning for the future as compared to boys (4.63).

Third highest score has been given to factor; Anxiety on Money Matters (4.89). Again girls

(5.03) have score better average s compared to boys (4.76). Girls use money cautiously to

buy items of use. Girls go for bargain while shopping. Extra spending does not make them

happy.

Students have given least score to the factor; Power-Prestige (3.10). It simply means that

students do not get amused by influencing friends with the amount of they have with them or

the valuables they carry/bear in college. Girls scored (2.83) as compared to boys (3.38) on

this particular factor.

Table 2 shows the correlation among various factors. The value is below 6 in all cases

showing that no factor is highly correlated to another factor. There is no problem of

multicollinearity among factors.

The regress model results of table 3 indicate that there is a significant difference between the

students` money attitude across gender. The value of Wilks'' Lambda indicates about (1

- .607) * 100 = 39.3% of the variance in the dependent variables is accounted for by the

differences between gender attitude to money. Three out of total four measures i.e. Power-

Prestige, Perception for Money Retention, and Anxiety on Money Matters appear to vary

significantly over gender, and even the F-ratio (5.668) for these is significant (p<.001).

Differences in Anxiety related to money matters across gender have greater impact on overall

students` money attitude as shown by the highest values of R2 (.214) and adjusted R (.194).

This result is significant at p<0.01. The F static also have the greatest value (10.368) in this

case. Differences in perception for money retention across gender scores the second highest

values for both R2 (.168) and adjusted R (.146). These values are significant at p<0.01 with F

value=7.652. Power-Prestige factor has the least values for R2 (.111) and adjusted R (.088).

These values are significant at p<0.05 with F=4.746. In case of fourth factor (feeling of

distrust) regression values have not been found statistically significant.

Beta values also show the strength of predictor i.e. gender for assessing money attitude.

These values indicate that for determining students` money attitude, anxiety on money

matters has the strongest predicting strength (.463) followed by perception for money

retention (.409) and finally the power-prestige factor (.036).

DISCUSSION OF RESULTS

H0: There is no difference between the mean scores of male and female respondents across four money attitude factors

HA: There is a difference between the mean scores of male and female respondents across four money attitude factors

Table 2: Independent Samples TestLevene's Test for

Equality of Variancest-test for Equality of Means

F Sig. t df Sig.Two-tailed

Mean Difference

Avg_A Equal variances assumed .984 .328 2.179 38 .036 .550Equal variances not assumed 2.179 37.262 .036 .550

Avg_D Equal variances assumed .016 .899 -3.220 38 .003 -.725Equal variances not assumed -3.220 37.133 .003 -.725

Avg_B Equal variances assumed 5.174 .029 -2.766 38 .009 -.339Equal variances not assumed -2.766 35.129 .009 -.339

Avg_C Equal variances assumed 4.668 .037 -1.136 38 .263 -.271Equal variances not assumed -1.136 35.934 .264 -.271

Table 1: ANOVASum of Squares df Mean Square F Sig.

Power-Prestige(Avg_A)

Between Groups 3.025 1 3.025 4.746 .036Within Groups 24.219 38 .637Total 27.244 39

Anxiety on Money Matters (Avg_D )


Perception for Money Retention(Avg_B)


Feeling of Distrust(Avg_C)

Between Groups .737 1 .737 1.290 .263Within Groups 21.702 38 .571Total 22.439 39

The result shows that Power-Prestige Factor (Avg_A) has p>0.5 for Levene's Test indicating

that equality of variances across gender. The t-test result (with equality of variances) shows t

statistic of 2.179 with 38 degrees of freedom. The corresponding two-tailed p-value is 0.36,

which is less than 0.05 but higher than 0.01. Therefore, null hypothesis (H0) is rejected at 5%

significance level implying that mean scores of genders are significantly different from each

other on power-prestige variable.

The result shows that Anxiety on Money Matters (Avg_D) has p>0.5 for Levene's Test

indicating that equality of variances across gender. The t-test result (with equality of

variances) shows t statistic of -3.220 with 38 degrees of freedom. The corresponding two-

tailed p-value is 0.003, which is less than 0.05 but higher than 0.001. Therefore, null

hypothesis (H0) is rejected at 5% significance level implying that mean scores of genders are

significantly different from each other on Anxiety on Money Matters.

The result shows that Perception for Money Retention (Avg_B) has p<0.5 for Levene's Test

indicating that inequality of variances across gender. The t-test result (with inequality of

variances) shows t statistic of -2.766 with 35.129 degrees of freedom. The corresponding

two-tailed p-value is 0.009, which is less than 0.05 but higher than 0.01. Therefore, null

hypothesis (H0) is rejected at 5% significance level implying that mean scores of genders are

significantly different from each other on Perception for Money Retention.

The result shows that Perception for Money Retention (Avg_C) has p<0.5 for Levene's Test

indicating that inequality of variances across gender. The t-test result (with inequality of

variances) shows t statistic of -1.136 with 35.934 degrees of freedom. The corresponding

two-tailed p-value is 0.264, which is more than 0.05. Therefore, null hypothesis (H0) is not

rejected at 5% significance level implying that mean scores of genders are not significantly

different from each other on Perception for Money Retention.

Group Statistics

Gender N Mean Std. Deviation Std. Error Mean

Avg_A MALE 20 3.38 .740 .165

FEMALE 20 2.83 .853 .191

Avg_D MALE 20 4.63 .764 .171

FEMALE 20 5.35 .655 .147

Avg_B MALE 20 5.38 .327 .073

FEMALE 20 5.72 .439 .098

Avg_C MALE 20 4.76 .659 .147

FEMALE 20 5.03 .841 .188

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