Reference no: EM132424165

There are some question about marketing research (includes chi-square question)

Question 1. Sampling - Come up with some plausible inducements of assurances for people receiving an email survey to provide snowball references of friends. (1 point)

New Mexico National Bank

New Mexico National Bank (NMNB) operates branches in 23 cities and towns throughout the state of New Mexico. The bank offers a complete range of financial services, including Visa and Mastercard credit cards. New Mexico National Bank (NMNB) has 53,400 people in the state using its credit cards. Based on their original applications, the bank has certain information about these individuals. This includes their name, address, zip code, telephone number, income, education, and assets. NMNB is interested in determining whether a relationship exists between the volume of purchases charged on credit cards and the demographic characteristics of the individual card holders. For example, are individuals in certain part of the state more or less likely to be heavy users of the card? Is there a relationship between a person's income and his or her level of card usage? Is there a relationship between the person's level of education and card usage? The data can be used to more effectively target offerings sent through the mail if significant relationships are found. Paul Bruney, research director for NMNB, is in the process of developing a design for the research. If you were Paul Bruney, how would you answer the following questions?

Question 2. How would you define the population of interest for the study? (1 point)

Question 3. What probability sampling method might you use for the project? Why would you choose that option? (2 point)

Question 4. Frame two different hypothesis for the study to be able to answer at least two questions posed by Paul Bruney. Clearly state the null hypothesis, alternate hypothesis, dependent and independent variables for both the hypothesis to get full points. (2 points)

Question 5. Using the data in the attached spreadsheet, test one of the hypothesis you have formed above. State all assumptions including level of significance and one test statistic chosen to get full points. (2 points)

Question 6. What would be your recommendation to NMNB based on your analysis above? (2 points)

Question 7. (Bonus Question) Discuss the top ethical and privacy issues you need to be concerned about as you manage this study. (2 points)