In Using Credit to Cover Living Expenses, Castellani and DeVaney (2001) explore peopleÆs attitude toward borrowing money to pay the cost of living expenses. As defined by chapter two, the research is non-experimental correlational research. The researchers are seeking to find relationship between variables based on the 1995 Survey of Consumer Finances (SCF).
The authors used the SCF to ascertain consumer attitudes toward use of credit to cover household expenses. The data were subjected to a multivariate logistic regression analysis. The results of the analysis demonstrated that those households more likely to use credit to cover living expenses were young, non-White, with less household income (Castellani et al. 2001, 12). These findings indicate that young minorities are more likely to go into debt to cover living expenses than other groups. The findings demonstrate a need to target specific populations of adults in addition to the need for educating teens about personal finance.
In chapter eleven we see the explanation of various research designs and tests. In relation to this study, the analysis of data was not suited to ANOVA because the researchers were trying to test differences between conditions among several dependent variables. As explained in chapter eleven, ôWhereas an analysis of variance tests differences among the means of two or more conditions on one dependent variable, a multivariate analysis of variance, or MANOVA, tests differences between the means of two or more conditions on two or more dependent variables simultaneouslyö (289). The resulting data could have been analyzed using separate ANOVAs for each of the dependent variables, but all of the dependent variables contribute to attitudes of consumers. As such, the researchers wanted to know in general whether these attitudes in general impact consumersÆ views about using credit to cover the cost of thei
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