Case 1: Century National Bank Checking Account Customers
Century National Bank has offices in several cities in the Midwest and in the southeastern part of the U.S. Dr. Robert Lindhal, president and CEO, would like to know the characteristics of his checking account customers. He asked Ms. Sofia Kovalevskaya, Director of Planning, to select a sample of customers and prepare a report. Assume that you work in the Planning Department of the Century National Bank and that you report to Ms. Kovalevskaya. She has called a meeting to discuss this project and has selected you to head a team of three employees of the department to take a random sample of customers and prepare a report for ...view middle of the document...
Decide whether a five number summary, or the mean and standard deviation better describe the data.
6. Prepare a box-and-whisker plot for all account balances.
7. Prepare side-by-side box-and-whisker plots of account balances for customers who have debit cards vs customers who do not have debit cards. What can you conclude from this?
8. Prepare side-by-side box-and-whisker plots of account balances for customers who receive interest on their checking accounts vs those who do not. What can you conclude from this?
9. Prepare side-by-side box-and-whisker plots for account balances for customers from each of the four locations, Cincinnati, Louisville, Eerie, and Atlanta. What can you conclude from this?
10. Prepare a scatter plot for the monthly account balances vs the number of ATM transactions used in the month. Explain the relationship and what this means.
Attempt to provide this information to Dr. Lindhal in a succinct, informative, and visually appealing way. Make sure to check spelling and grammar to avoid major mistakes. Organize the report well, using a formal and professional style.
Figure 1. Century National Bank Case Data.
X1=Account balance in $
X2=Number of ATM transactions in the month
X3=Number of other bank services used
X4=Has a debit card (1=Yes, 0 = No)
X5=Receives interest on the account (1=Yes, 0=No)
X6=City where banking is done (1=Cincinnati, OH, 2=Atlanta, GA, 3=Louisville, KY, 4=Erie, PA)
x1 x2 x3 x4 x5 x6
$1,756 13 4 1 1 2
$748 9 2 1 0 1
$1,501 10 1 1 0 1
$1,831 10 4 1 1 3