Case Study Isom Essay
The Century National Bank has branches in several cities primarily in the Midwest and Southeastern part of the United States, but smaller offices and branches are distributed throughout most states. Mr. John Zobus, President and CEO, would like to know the characteristics of the checking account customers, such as: What is the balance of the typical customer? Or: How many other bank services do the checking account customers use? Do the customers use the ATM service, and, if so, how often? What about debit cards? Who uses them and how often are they used? To better understand the customers, Mr. Zobus asked Ms. Pamela Helton, Director of Planning, to select a sample of customers and prepare a report that …show more content…
Required: (Your case study should be organized based on the above format; however, it should address the below questions) 1) Develop a graph or table that portrays the checking account balances by branch. What is the balance of the 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 account balances cluster?
2) 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 explain what it shows. Because Mr. Zobus does not deal with statistics daily, include a brief description and interpretation of the measures that you use. 3) Is it reasonable that the distribution of checking account balances approximates a normal probability distribution? Determine the mean and the standard deviation for the sample