What is the balance of a typical customer

Reference no: EM132552663

Question 1: The Director of Planning for Devine Dining Inc. wishes to study the relationship be¬tween the gender of a guest and whether the guest orders dessert. To investigate the relationship, the manager collected the following information on 200 recent customers.

Gender

Dessert Ordered	Male	Female	Total
Yes	32	15	47
No	68	85	153
Total	100	100	200

a. What is the level of measurement of the two variables?
b. What is the above table called?
c. Does the evidence in the table suggest men are more likely to order dessert than women? Explain why.

Question 2:

A. Century National Bank

The following case will appear in subsequent review sec¬tions. Assume that you work in the Planning Department of the Century National Bank and report to Ms. Lamberg. You will need to do some data analysis and prepare a short writ-ten report. Remember Mr. Selig is the president of the bank, so you will want to ensure that your report is complete and accurate. A copy of the data appears in Appendix A.6.

Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account custom¬ers. What is the balance of a typical customer?

How many other bank services do the checking ac-count customers use? Do the customers use the ATM ser¬vice and, if so, how often? What about debit cards? Who uses them, and how often are they used?

To better understand the customers, Mr. Selig asked Ms. Wendy Lamberg, director of planning, to select a sam¬ple of customers and prepare a report. To begin, she has appointed a team from her staff. You are the head of the team and responsible for preparing the report. You select a random sample of 60 customers. In addition to the balance in each account at the end of last month, you determine (1) the number of ATM (automatic teller machine) transac¬tions in the last month; (2) the number of other bank ser¬vices (a savings account, a certificate of deposit, etc.) the customer uses; (3) whether the customer has a debit card (this is a bank service in which charges are made directly to the customer's account): and (4) whether or not interest is paid on the checking account. The sample includes cus-tomers from the branches in Cincinnati, Ohio; Atlanta, Georgia; Louisville, Kentucky; and Erie, Pennsylvania.

1. Develop a graph or table that portrays the checking balances. What is the balance of a typical customer? Do many customers have more than $2,000 in their accounts? Does it appear that there is a difference in the distribution of the accounts among the four branches? Around what value do the account bal¬ances tend to cluster?

2. Determine the mean and median of the checking ac-count balances. Compare the mean and the median balances for the four branches. Is there a difference among the branches? Be sure to explain the difference between the mean and the median in your report.

3. Determine the range and the standard deviation of the checking account balances. What do the first and third quartiles show? Determine the coefficient of skewness and indicate what it shows. Because Mr. Selig does not deal with statistics daily, include a brief description and interpretation of the standard deviation and other measures.

Reference no: EM132552663

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