A growing concern in Vietnam, that people especially parents or educators are paying more attention to nowadays, is the independence of teenagers. While many people think that young generation tends to depend on family, others believe that teenagers are more active in earning money and prove their abilities. To have a deep insight into this problem, we conducted a survey which focuses on students planning or running their own business during the university period. Based on the specific statistics from the survey and detailed analysis, we can have the relevant accurate conclusion about this issue.
II. INTRODUCTION
Surprisingly, in 2002, amongst 40.000 entrepreneurs being investigated in Vietnam, there were only 7.28% of them who were under 30 years old (Vietnamnet). This means that students running their own business hold a very small proportion. However, recent economic booming in Vietnam has changed teenagers’ thinking about doing business. They have deeper understanding about the benefit that running business brings to them. This change fosters us to make this survey to draw out the correct consideration about this issue. Moreover, this survey also can assist us in accumulating experience and gaining valuable knowledge; therefore, we can have a thorough grasp of the procedure of statistical thinking which has a strong relationship with another subject such as marketing research. Our report will be divided into three parts: descriptive statistics which summarizes the main points in the survey and also the relationships between factors such as gender, semester, department and educational environment. The next part is inferential statistics in which we draw conclusions based on the sample statistics. In final part, we will present some recommendations in order to enlighten students’ mind about doing business.
III. LITERATURE:
According to the real statistics from the study of Vietnamnet, the proportion of Vietnamese students running business is much less than other nations. The first reason is that most students would like to work for Government companies after graduating in order to have stable income, receive good welfare and retirement pension. Secondly, being scared of failure and preferring avoid risks prevent students from catching opportunities to do business. However, economists state that teenagers should alter their mind and be more active, confident to face with challenging. By this way, they can contribute to the development of Vietnam economy. Therefore, we decide to carry out this topic relied on the credible responses from students of the three universities including Foreign Trade University (FTU), University of Economic HCM City (UEH) and RMIT University.
(Nhat Vy 2005)
IV. DATA COLLECTION INSTRUMENT:
We decided to choose primary sources, specifically conducting survey because there are no available sources about our topic. Our survey is divided into three sections. The first one is the background of the students such as gender, semester, department; the next is their plans, main financial support as well as purposes. The final section is their attitude and thinking toward the success and failure when running business.
1. SAMPLING PLAN:
It is obvious that all of the students from universities related to economic majors in Ho Chi Minh City are our population. However, the numbers of students are too large to examine. In addition, due to the limitation of time and money, we decided to draw a sample. We selected 120 students randomly in three different universities and 40 students from each university, one is the international university- RMIT University, the others are the national universities- UEHHo Chi Minh City (HCMC) and FTU. The differences of background, education environment and financial condition of these students are the reason why we have chosen these three universities.
Sampling Method
We made up our mind to use probability sample “which is one in which the subjects of the sample are chosen on the basis of known probabilities” (Levine, M., David et al, 2005, p.10). Simple random and stratified sample seem to be the best choice.
Simple Random: is defined as “the method that every individual or item from the frame has an equal chance of being selected and selection may be with replacement and without replacement” (Levine, M., David et al, 2005, p 11). We decided to use simple random without replacement because it is simple to use. Furthermore, when every individual has the same chance of selection, it will ensure the fairness of the result.
Stratified Sample: “is one in which population divided into two or more groups according to some common characteristics, and then simple random sample selected from each group” (topic: introduction to statistic, 2007). “Stratified sample ensures representation of individuals across the entire population” (topic: introduction to statistic, 2007) is the reason why we applied this method.
We used stratified sample two times. Firstly, we divided our sample into three groups of university – 40 students from each. Secondly, in those 40 students, we separated 20 students from semester 1 to 4 and 20 from semester 5 to 8. Moreover, amongst 40 those students, we also made survey with 20 females and 20 males. The reason why we split students into two groups is that we want to figure out whether the semester periods and gender influence on the students’ decision on planning or running business during the university time or not.
2. PLAN FOR THE SURVEY
There are five members in our team. Firstly, we discussed about the questions going to ask in this survey. We finally showed our consensus on 10 questions after many times discussing and come up with the process of making the survey paper. We also unified the method of sampling (stratified sampling method) and our sample size was randomly 120 students in three different universities. Moreover, it also was created in both Vietnamese and English so that everyone who was surveyed could understand clearly and provide accurate answers.
After that, we started to run our surveying process firstly in RMIT campus. Then, we came to the other university campuses and continued with their students.
Finally, based on the results supported by those students, we can summarize and analyze data.
3. ADVANTAGES AND DISADVANTAGES
3.1 Advantages:
- Our sample included students from three different universities relating economic majors in HCM City. Therefore, our conclusion may be more objective.
- Sample size of 120 students which is large enough for us to conclude that the sampling distribution can be safely approached by Normal Distribution. Moreover, it also allows us to calculate and verify the results by applying Z-table and t-table.
- Stratified sampling method which divided our sample by semester and gender helps us to present the individuals’ performance across the rest population.
- Avoid measurement error: After many discussing hours, our questionnaire is fairly complete and clear which reflects aspects requiring to open a business such as financial support, kind of business, capital.
3.2 Disadvantages:
- There are some unclear responses due to the fact that we did not sit next to each individual respondent. Hence, we cannot ensure they answer honestly or not.
- Coverage error: Our sample just includes three common universities in HCM City. By this way, it cannot reveal the exact conclusion about other universities fairly.
- Sampling error: There is a difference between the result of our sample and the actual value of population because our sample size is smaller than the population size. Moreover, our sample just focuses on students studying economic majors; hence, in some way, it cannot reflect exactly the proportion of young Vietnamese people planning to do business. Thus, sampling error is inevitable.
V. DATA SUMMARY
1. IMPORTANT QUESTIONS
1.1 Gender:
1.2 Semesters:
1.3 Are you planning or running your small business during university time?
The bar chart shows the proportion of students of the three universities who plan running business while studying or not. The result presents that there are 50% (20 students) RMIT students who planning or running business and the rest (50%) say “no”. While there are 33 students of the UEH (82%) say “yes”, only 7students (18%) say “no” when being asked. However, the percentage of students who plan to run business or not of FTU seems to be similar with 21 students say “yes” and 19 say “no”.
1.4 If you plan or run business, what is your main financial support?
As can be seen from the (), most three usniversities’ students have their main financial support from their family. RMIT and UEH have the same proportion with 56% of the total while FTU has a higher rate at 63%. It can be understood that family always plays the most significant role in the decision of starting to run a business of teenagers recently. Borrowing moneys from bank also occupies an important rate of students with 20% and 14% in total of RMIT and FTU. However, UEH stduents do not consider the investments from bank for their financial support. They can find investments from other ways and that rates at 23% totally. To conclude, students can find their own way to get the main financial support for their business. Generally, most of them believe their family is the safest and the best financial investment in order to plan or run a business.
1.5 What kind of business are planning or running?
According to the diagram, opening the fashion shop occupies the highest proportion with 26% totally of students from RMIT University. On the other hand, both UEH and FTU students like to open their business in other types that make up 37% and 34% in total. It can be seen that students want to build up their own business which has to be new, unique and also easy to manage the operations.
1.6 How much money have you invested or will invest in your business?
Here are 3 summary tables of the statistical figures from the 3 universities. As can be seen, RMIT has the highest Mean, Median and Mode of the 3 universities (Mean is 3,216.425$, Median is 2,110$ and Mode is 3000$). However, we can not modify the shape of its population’s distribution because the Median is smaller than Mode and Mean. On the other hand, both UEH and FTU have the similar shape of distribution that have the Mean is larger than Median and then Mode (UEH has the Mean at 1,566$, 1,050$ of Median and Mode is 500$ while FTU has the Mean at 1,740.25$, 1,300$ of Median and Mode is 300$). It can be understand that their data are positive, or right-skewed that has a long tail on the right of the distribution and a distortion to the right that is caused by extremely large values. About the standard deviation, RMIT still gets the highest with 3,147.11$ for each investment for each student’s plan on business. It may be due to the fact that the main financial support of RMIT students is their family thereby satisfying all their needs for their plan on business. Next is FTU with the standard deviation of 1,897.74$ and finally is UEH with 1,349.85$. In general, RMIT students have the highest investments for their business compared with the other 2 universities.
1.8 What are your purposes to start planning / running your business?
The pareto diagram above shows some purpose patterns that students of FTU give when being asked for the reason of running business during the university period. As can be seen, the most important reason which makes students feel interested in doing business is earning money (50%). Then, there is 20% ideas claim that they want to do business when studying to accumulate experiences for their future careers. Following, while some students assert that they like the feeling of challenging in the business environment (10%), there is very small percentage of students has other purpose for opening a business, just 1%.
The pareto diagram above gives the proportion of the four main purposes that students of the UEH City present when running their own business. There is 36.49% ideas state that earning money is the most vital reason when doing business and 27.03% of them think accumulating experiences is the main purpose because there are many real experiences they cannot gain from school. Just by running the real business, they can have valuable experiences. Next, other reason, which is 20.27%, is considerably more common than the reason of preferring challenging, which makes up 16.22%.
The proportion of the four main reasons of doing business which are given by the students of RMIT University Vietnam is illustrated by the pareto diagram above. Earning money has the highest percentage amongst the four (52.63%). Subsequently, accumulating experiences is the second reason that students choose after earning money which constitutes 36.84%. There is 7.02% students state that they decide to do their own business because they like the sensation of challenging and 3.51% presents other reasons.
As can be seen, most students from the sample think that earning money (46.37%) and accumulating experience (27.96%) purposes are the most important reasons for doing business. While students of FTU and RMIT University state that sense of challenging encourage them to run business, UEH’ s students have other reasons for their decisions.
2. COMBINED QUESTIONS:
2.1
Gender: Male / Female
Are you planning or running your small business during university time?
The three column charts show the proportion of males and females in three universities including the FTU, UEH and RMIT university, divided into whether they plan and do business or not.
The FTU shows a contrary result with the greater percentage of males who do not have plan or do business (9 students) than the ones do (11 students). On the other hand, there are twelve (12) females say “yes” and eight (8) of them say “no” when being asked.
While the gender effects extremely in business plan in RMIT University and FTU, UEH meets a different situation. The result of survey shows that the numbers of male and female who have plan and do business seem to be equal with sixteen (16) amongst 20 males and seventeen (17) amongst 20 females. On the contrary, there are only 4 males and 3 females answer “no” for this question.
In RMIT university, there are thirteen (13) among 20 males who are being asked, answered that they have plan or actually have their own business while there are only seven (7) females say “yes” for this question. Surprisingly, the oppose result of female describes that the number students who tend to do business (7 students) is much less than the students who do not (13 students).
2.2
Semester: 1-4 5-8
Are you planning or running your small business during university time?
The bar chart shows the numbers of students from sem 1-4 and sem 5-8 in the response to having plan to do business or not.
As can be seen, students from sem 1-4 who plan to do business in this univeristy,which account for 12 are more than students from sem 5-8, which are 9. In addition, students from sem 1-4 who don’t have plan is 8 out of 20 which are less than students from sem 5-8, which make up 11. Surprisingly, the numbers of students who want to run businees from sem 1-4 are more than the numbers of students from sem 5-8. In Foregin Trade Univeristy, it could be that the numbers of sem students take do not impact on their thinking and desire to do business during university time.
This chart illustrates that there are a large number of students from semester 1-4 and semester 5-8 have plan to do business. However, those numbers from semester 5-8 are more than students from semester 1-4. There are 18 out of 20 students from semester 5-8 said that they want to run business during university time while students from semester 1-4 are 15. It can be said that in UEH, the numbers of semester taken may influence on the thinking of students. It seems that when students study higher and become mature, they will think about running their own business.
The bar chart presents that students from semester 1-4 who tend to do business in RMIT University are less than students from semester 5-8. 8 out of 20 students from semester 1-4 answer “yes” compare with 12 out of students from semester 5-8. Students from semester 1-4 who do not have plan, which is 12 are more than students from semester 5-8 which constitutes 8. It could be that the circumstance of RMIT University is the same with UEHHCMC. When students study higher level, they have accumulated experience and become mature. As a result, they may want to challenge themselves. They tend to have their own plan and own way to develop. Therefore, it can explain why students from semester 5-8 who plan to do business are more than students from semester 1-4.
2.4
Gender : male /female
What are your purposes to start planning / running your business? (more than 1 answer is accepted)
In the FTU case, the number of male (6 students) who like to face with changing is more than female (4 students). Beside that, most of FTU’s students tend to do business to earn money with 15 males compared to 16 females. Moreover, there are 11 female and 9 male who do business to gain experince. There is only 1 male has other purpose while this number for female situation is zero.
The side by side bar chart above shows the relationship between the gender and the purpose of doing business in OEH. It appears that male decide to run business because they like feelings of challenging (7 students) more than female (5 students). Surprisingly, there are more female students stating that earning money (16 students) and other reasons (4 students) encourage them to do business than males, which constitue 11 for earning money purpose and 1 for other purpose. 10 male and 10 female agree with each other that experience is a factor that lead them to run business.
The connection between the gender and the reason why RMIT’s students prefer to run business is illustrated in the side by side bar chart above. As can be seen, there is the equality in the amount of male and female students stating that preferring challenging sensation (2 students of each) and other reasons (1 student of each) make them want to do business. Besides that, when doing business, money is the motivation. Hence, this number for the earning money reason between male and female seems to be equal (16 for male and 14 for female). Moreover, the number of female (11 students) who run business for gaining experience purpose is greater than male (10 students).
VI. INFERENTIAL STATISTIC
In this report, we choose to use hypothesis testing and regression analysis. In the first section, we apply hypothesis testing to check that whether the gender and semester affect the decision of doing business of Vietnamese young people or not. Moreover, “t test for differences in two means” also assists us to compare the differences in the amount of money that students invest in their own business amongst three universities. Next section is the regression analysis in which we use “measures of variation” and “hypothesis testing and confidence interval for population slope” to check whether there is the relationship between the age and the capital or not.
1. HYPOTHESIS STATISTIC
1.1 WHETHER THE SEMESTER FACTOR IS INDEPENDENT TO THE DECISION OF PLANNING BUSINESS OR NOT
1.1.1 FTU
Results
Critical Value 3.841459
Chi-Square Test Statistic 0.902256
p-Value 0.342178
Do not reject the null hypothesis
Because p-value =34.21% is more than level of significance (α=0.05),not reject Ho. There is not enough evidence to claim the semester affects the decision to plan business at FTU students.
1.1.2 UEH
Results
Critical Value 3.841459
Chi-Square Test Statistic 1.558442
p-Value 0.211894
Do not reject the null hypothesis
Since P-value = 21.19% is more than the level of significance (α=0.05), not reject Ho. There is not enough evidence to claim the semester affects business plan at UEH students.
1.1.3 RMIT
Results
Critical Value 3.841459
Chi-Square Test Statistic 1.6
p-Value 0.205903
Do not reject the null hypothesis
P-value of 20.59% indicated the probability of having a sample mean (n=40) which is ether semester independent to planning business or not given that the null hypothesis is true since 20.59% is more than 5% ( level of significance) ,do not reject Ho. There is not enough evidence to conclude the semester do not independent to planning business at RMIT students.
1.2 WHETHER GENDER FACTOR IS INDEPENDENT TO THE DECISION OF PLANNING BUSINESS OR NOT
1.2.1 FTU
Results
Critical Value 3.841459
Chi-Square Test Statistic 0.902256
p-Value 0.342178
Do not reject the null hypothesis
Since P-value =34.21% is above the level of significance (α=0.05), not reject Ho. There is not enough evidence to conclude the gender affect business plan at FTU students.
1.2.2 UEH
Results
hjCritical Value 3.841459
Chi-Square Test Statistic 0.17316
p-Value 0.677318
Do not reject the null hypothesis
Because p-value=67.73% is higher than level of significance(α). There is not enough evidence to conclude the gender do not independent to planning business at UEH students.
1.2.3 RMIT
Results
Critical Value 3.841459
Chi-Square Test Statistic 3.6
p-Value 0.05778
Do not reject the null hypothesis
Since P-value = 5.78% is above the level of significance of 5%(α), not reject Ho. There is not enough evidence to conclude the gender do not independent to planning business at RMIT students.
In general, gender and semester do not affect the decision making of planning or running business of the students in three universities.
2. COMPARISON
In this part, we would like to use “t test for differences in two means” to compare the differences between the money each student from each university invest in their business with other university.
We assume that 1= UEH
2 = FTU
3 = RMIT
2.1 UEH & FTU
H0: 1 - 2 > 0 [UEH’s students invest more money than FTU’s students]
H1: 1 - 2 < 0 [FTU’s students invest more money than UEH’s students]COMPARISION CAPITAL BETWEEN UEH &FTU DataHypothesized Difference 0Level of Significance 0.05Population 1 Sample Sample Size 40Sample Mean 1566Sample Standard Deviation 1349Population 2 Sample Sample Size 40Sample Mean 1742Sample Standard Deviation 1895 Intermediate CalculationsPopulation 1 Sample Degrees of Freedom 39Population 2 Sample Degrees of Freedom 39Total Degrees of Freedom 78Pooled Variance 2705413Difference in Sample Means -176t Test Statistic -0.47853 Lower-Tail Test Lower Critical Value -1.66462p-Value 0.316805Do not reject the null hypothesis According to the table above, since p- value = 0.31605 > = 0.05, we do not reject the null hypothesis. This means that there is not sufficient evidence to claim that FTU’s students invest more money than UEH’s students do.
2.2 FTU & RMIT
H0: 2 - ¬3 > 0 [ FTU’s students invest more money than RMIT’s students]
H1: 2 - 3 < 0 [ RMIT’s students invest more money than FTU’s students]CAPITAL COMPARISION BETWEEN FTU & RMIT DataHypothesized Difference 0Level of Significance 0.05Population 1 Sample Sample Size 40Sample Mean 1742Sample Standard Deviation 1895Population 2 Sample Sample Size 40Sample Mean 3216Sample Standard Deviation 3147 Intermediate CalculationsPopulation 1 Sample Degrees of Freedom 39Population 2 Sample Degrees of Freedom 39Total Degrees of Freedom 78Pooled Variance 6747317Difference in Sample Means -1474t Test Statistic -2.53774 Lower-Tail Test Lower Critical Value -1.66462p-Value 0.006575Reject the null hypothesis The table above presents that p value= 0.006575. Since p value < = 0.05, we reject the null hypothesis. There is sufficient evidence to conclude that RMIT’s students invest more money than FTU’s students do. 2.3 RMIT & UEHH0: 3 - 1> 0 [RMIT’s students invest more money than UEH’s students]
H1¬: 3 - 1< 0 [UEH’s students invest more money than RMIT’s students]CAPITAL COMPARISION BETWEEN RMIT & UEH DataHypothesized Difference 0Level of Significance 0.05Population 1 Sample Sample Size 40Sample Mean 3216Sample Standard Deviation 3147Population 2 Sample Sample Size 40Sample Mean 1566Sample Standard Deviation 1349 Intermediate CalculationsPopulation 1 Sample Degrees of Freedom 39Population 2 Sample Degrees of Freedom 39Total Degrees of Freedom 78Pooled Variance 5861705Difference in Sample Means 1650t Test Statistic 3.047803 Lower-Tail Test Lower Critical Value -1.66462p-Value 0.998427Do not reject the null hypothesis According to the table above, since p value= 0.998427 > = 0.05, we do not reject the null hypothesis. There is not enough evidence to conclude that UEH’s students invest more money than RMIT’s students do.
3. REGRESSION ANALYSIS
3.1 FTU
FTU
Regression Statistics
Multiple R 0.060600843
R Square 0.003672462
Adjusted R Square -0.022546684
Standard Error 1.919014829
Observations 40
ANOVA
df SS MS F Significance F
Regression 1 0.515816761 0.515816761 0.140067955 0.710293818
Residual 38 139.9394807 3.682617914
Total 39 140.4552975
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 2.923504929 3.176141101 0.92045814 0.36314014 -3.506256525 9.353266383
-0.056818964 0.151818228 -0.374256537 0.710293818 -0.364158896 0.250520968
• Slope: b1= -0.056818964 which shows that for each one-year-older students are, the amount of money they invest in their business would decrease $95.68 on average.
• Y- intercept: b0 = 2.923504929
• I = b0 + b1 Xi = 2.9235 – 0.05681. Xi: Negative relationship
• R Square: r2 = 0.003672462: There is 0.367 % of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 99.633% of the variation in the capital can be explained by other factors which we ignore in this study.
• Multiple R: r = 0.060600843: is closed to zero so there is a weak relationship between capital and age of the students.
H0: 1= 0 (no significant relationship between age and capital)
H1: 1 0 (there is a relationship between age and capital)
• Standard error: SYX = 1.919014829
• = 0.151818228
• t Stat = - 0.374256537
Assume that = 0.05
Critical Value= t /2, n-2 = t0.025, 38= 2.0244
Since the test statistic (t=- 0.374256537) falls into the non-rejection region (t=-0.374256537> CV= -2.0244) then we do not reject the null hypothesis. There is not enough evidence to conclude that the age of the student affect the money they invest in their own business.
3.2 UEH
UEH
Regression Statistics
Multiple R 0.40134593
R Square 0.161078556
Adjusted R Square 0.139001676
Standard Error 1.252529755
Observations 40
ANOVA
df SS MS F Significance F
Regression 1 11.4465901 11.4465901 7.296255401 0.010265102
Residual 38 59.6155699 1.568830787
Total 39 71.06216
Coefficients Standard Error t Stat P-value Lower 95% Upper 95%
Intercept 9.645036179 2.997502057 3.217691263 0.002642853 3.576910561 15.7131618
Slope -0.407004342 0.150677716 -2.701158159 0.010265102 -0.712035428 -0.101973256
• Slope: b1= -0.407004342 which shows that for each one-year-older students are, the amount of money they invest in their business would decrease $407 on average.
• Y- intercept: b0 = 9.645036179
• I = b0 + b1 Xi = 9.645036179 – 0.407004342. Xi: Negative relationship
• R Square: r2 = 0.161078556: There is 16 % of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 84% of the variation in the capital can be explained by other factors which we ignore in this study.
• Multiple R: r = 0.40134593: is closed to zero so there is a weak relationship between capital and age of the students.
H0: 1= 0 (no significant relationship between age and capital)
H1: 1 0 (there is a relationship between age and capital)
• Standard error: SYX = 1.252529755
• = 0.150677716
• t Stat = - 2.701158159
Assume that = 0.05
Critical Value= t /2, n-2 = t0.025, 38= 2.0244
Since the test statistic (t=- 2.701158159) falls into the rejection region (t=- 2.701158159< CV= -2.0244) then we reject the null hypothesis. There is enough evidence to conclude that the age of the student affect the money they invest in their own business.3.3 RMITRMIT Regression Statistics Multiple R 0.112057547 R Square 0.012556894 Adjusted R Square -0.013428451 Standard Error 3.168178574 Observations 40 ANOVA df SS MS F Significance F Regression 1 4.850349637 4.850349637 0.483229836 0.491192181 Residual 38 381.4195081 10.03735548 Total 39 386.2698578 Coefficients Standard Error t Stat P-value Lower 95% Upper 95%Intercept -1.075504022 6.194416523 -0.17362475 0.863082002 -13.61544457 11.46443653age 0.21116502 0.303770158 0.695147348 0.491192181 -0.40378551 0.826115549• Slope: b1= 0.21116502 which shows that for each one-year-older students are, the amount of money they invest in their business would increase $211 on average.• Y- intercept: b0 = - 1.075504022• I = b0 + b1 Xi = - 1.075504022 + 0.21116502. Xi: Positive relationship• R Square: r2 = 0.012556894: There is 1.256 % of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 98.744% of the variation in the capital can be explained by other factors which we ignore in this study.• Multiple R: r = 0.112057547: is closed to zero so there is a weak relationship between capital and age of the students.H0: 1= 0 (no significant relationship between age and capital)H1: 1 0 (there is a relationship between age and capital)• Standard error: SYX = 3.168178574• = 0.303770158• t Stat = 0.695147348Assume that = 0.05Critical Value= t /2, n-2 = t0.025, 38= 2.0244Since the test statistic (t= 0.695147348) falls into the non- rejection region (t= 0.695147348< CV= 2.0244) then we do not reject the null hypothesis. There is enough evidence to conclude that the age of the student affect the money they invest in their own business.VII. RECOMMENDATIONIn this study, we have applied hypothesis testing and regression analysis to examine the relationship between the decision of planning or running business of students and other factors affecting that decision. The useful functions of excel and PHStat helps us to calculate statistical numbers fast and exactly. Therefore, we can minimize errors and draw the more accurate conclusion about the attitude of Vietnamese young people in doing business during university period. Through the study, we can conclude that the gender and semester factors do not affect the idea of doing business. Additionally, by using hypothesis testing and confidence interval for population slope, we clearly see that age factor does not have any influence on the students’ investment. It seems that the decision to do business during the university period is not based on those factors we examine in this study. However, errors about sample mean, sample standard deviation still exist because the sample size is too small comparing to population size. In addition, the sample we choose to conduct survey focus on students study in business education; therefore, it may not represent the whole population, which means that it cannot reflect clearly the trend of doing business of Vietnamese youth in the whole countries. Consequently, increasing sample size and choosing right sampling method is necessary to minimize these errors and make the research more accurate. Moreover, we should enlarge the survey area by conducting survey in different education sector. Last but not least, preparing a detailed survey minimizing the potential error is also essential to make the research more credible. People can based on the research to have a deep insight into the trend of doing business of Vietnamese youth in the globalization era. VIII. CONCLUSIONFollowing the purpose of our research, getting a deep insight understanding about the trend of running business during the university period of students, we apply descriptive and inferential Statistics. Firstly, in data summary and Descriptive Statistics part, we use lot of charts to analyze the underlying reasons affecting decision on running business. For example: We see that over 50% interviewees have main financial support coming from family. Secondly, we used different statistical methods such as hypothesis testing and regression analysis to examine whether the gender, semesters and age affect the decision of doing business of Vietnamese young people or not. In the result of our sample , the fact that both gender and semester have no relationship with the decision of planning or running business of students at RMITVN, UEH and FTU. On the other hand, age only affects this decision at UEH . In general, we can say that we have achieved our planed purpose in this research because finally the analysis has shown that virtually those factors we mention in the survey do not affect the idea of doing business. Furthermore, there is some errors such as dishonest answer and the lack of paying attention which can reduce the quality, especially credibility although the statistical method and calculating process are right. IX. REFERENCE LISTLevine, M., David, Stephen David, Krehbiel, C., Timothy and Berenson, L., Mark. 2005, Statistic for Managers using Microsoft Excel, Fourth Edition, Prentice- Hall, New Jersey, p.10.Levine, M., David, Stephen David, Krehbiel, C., Timothy and Berenson, L., Mark. 2005, Statistic for Managers using Microsoft Excel, Fourth Edition, Prentice- Hall, New Jersey, p.11.Nhat Vy. 2005, ‘Why young Vietnamese young people still dare to do business?’, VietnamNet, viewed 24 November 2007,
‘Topic: introduction to statistic’ 2007, RMIT University, viewed 22 November 2007,
IX. APPENDIX
SURVEY
Topic: The proportion of students plan or run small business during the university time.
Purpose: We are students of Commerce Faculty from RMIT Vietnam University. With the purpose of performing a statistical number of students planning or running business during the university times, we send this survey to you and hope that we will receive your honest respondents.
1. Gender: Male Female
2. Semester: a/ 1-4 4-8
b/ age:______
3. Department:
IT Design Commerce HED
4. Are you planning or running your small business during university time?
Yes No
5. If you plan or run business, what is your main financial support?
Family Bank Friends Others
6. What kind of business are planning or running?
Fashion shop Investing in Stock Market Souvenir
Coffee shop Online Selling Others
7. How much money have you invested or will invest in your business?
Less $ 500 $ 500 – 1000 $ 1000 – 2000 more than $ 2000
¬¬¬¬please write the exact number: ¬¬¬¬¬__________________USD
8. What are your purposes to start planning / running your business? (More than one option would be accepted)
Challenging Earn money Accumulate experience Others
9. Starting to run a business when studying, do you think you can succeed?
Yes No
10. If you fail, do you want to try again? If yes, why?
Yes No
Your reason_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
--- Thanks for your cooperation ---
FTU:
i = 833
i = 69.61
. Yi = 1440.55
2 = 17507
2 = 261.5941
A or SSXY = = = -9.07825
B or SSX = = = 159.775
C or SST = = = 140.4553
b1 = = = = -0.05682
b1= -0.05682 which shows that for each one-year-older students are, the amount of money they invest in their business would decrease $95.92 on average.
b0 = - b1 = 2.9235
I = b0 + b1 Xi = 2.9235 – 0.05682. Xi: Positive relationship
= 0.00367
There is 0.367 % of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 99.633% of the variation in the capital can be explained by other factors which we ignore in this study.
r = = = 0.0606: is closed to zero so there is a weak relationship between capital and age of the students.
H0: 1= 0 (no significant relationship between age and capital)
H1: 1 0 (there is a relationship between age and capital)
= 1.9190
= 0.1518
t = = -0.3743
Assume that = 0.05
Critical Value= t /2, n-2 = t0.025, 38= 2.0244
Since the test statistic (t=- 0.3743) falls into the non-rejection region (t=-0.3743> CV= -2.0244) then we do not reject the null hypothesis. There is not enough evidence to conclude that the age of the student affect the money they invest in their own business.
ECONOMIC:
i = 794
i = 62.64
. Yi = 1215.28
2 = 15830
2 = 169.1564
A or SSXY = = = -28.124
B or SSX = = = 69.1
C or SST = = = 71.06216
b1 = = = = -0.407
b1= -0.407 which shows that for each one-year-older students are, the amount of money they invest in their business would decrease $407 on average.
b0 = - b1 = 9.64495
I = b0 + b1 Xi = 9.64495 – 0.407 Xi: Negative relationship
= 0.16
There is 16% of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 84% of the variation in the capital can be explained by other factors which we ignore in this study.
r = = = -0.40134: is closed to zero so there is a weak relationship between capital and age of the students.
H0: 1= 0 (no significant relationship between age and capital)
H1: 1 0 (there is a relationship between age and capital)
= 1.25253
= 0.150678
t = = - 2.70112
Assume that = 0.05
Critical Value= t /2, n-2 = t0.025, 38= 2.0244
Since the test statistic (t= -2.70112) falls into the rejection region (t=-2.70112< CV= -2.0244) then we reject the null hypothesis. There is enough evidence to conclude that the age of the student affect the money they invest in their own business.RMIT i = 813 i = 128.657 . Yi = 2637.923 2 = 16633 2 = 800.08545A or SSXY = = = 22.969475 B or SSX = = = 108.775 C or SST = = = 386.26986 b1 = = = = 0.2111b1= 0.2111 which shows that for each one-year-older students are, the amount of money they invest in their business would increase $211 on average. b0 = - b1 = -1.07215 I = b0 + b1 Xi = -1.07215 + 0.2111 Xi: Positive relationship = 0.01256: Positive relationshipThere is 1.256 % of variation in the capital that students invest in their business can be explained by the variation in the age of students. The remaining of 98.744% of the variation in the capital can be explained by other factors which we ignore in this study.r = = = 0.112: is closed to zero so there is a weak relationship between capital and age of the students.H0: 1= 0 (no significant relationship between age and capital)H1: 1 0 (there is a relationship between age and capital) = 3.1682 = 0.30377t = = 0.69493Assume that = 0.05Critical Value= t /2, n-2 = t0.025, 38= 2.0244Since the test statistic (t= 0.69493) falls into the non-rejection region (t=0.69493> CV= 2.0244) then we do not reject the null hypothesis. There is not enough evidence to conclude that the age of the student affect the money they invest in their own business.
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