Century National Bank Case Analysis

The Century National Bank has many different locations in several cities throughout the United States. The CEO and President of The Century National Bank, John Zobus wants to analyze, compare, and contrast the characteristics of the checking account of customers in the many different locations of The Century National Bank. Century National Bank remains keeping customer service as their main priority as well as helping their communities thrive. John Zobus has assigned us to select a random independent sample of 30 customers within The Century National Bank and analyze their checking account balance at the end of month, number of ATM transactions, number of other bank services the customer uses, whether the customer has a debit card, and from …show more content…
The possible reasoning for why these actions are being taken note of is to see if there are correlations between one another. For example, with analyzing these actions we can see if account balances affect the number of ATM transactions during the month, if customers with higher account balances use ATM machines more than customers with lower account balances, if the location of the customer affects the services that are being used, and many other analytical inferences and questions. To gather information as well as make valid conclusions, key concepts such as median, mode, range, mean, standard deviation, and skewness will be recorded and evaluated. The median, mode, mean, and standard deviation are all estimates which are very helpful when separating and organizing larger sets of data. What the standard deviation does is that it gives us a better idea of how close the entire set of data is to the average value. When we look at data with large standard deviations, we notice that it correlates to data that is spread over a wide range of values. While looking at our data, I noticed that all cities except Atlanta had a negative skewness which meant the mode was greater than the median and …show more content…
Looking at our results, Atlanta had the greatest mean, which meant that it had the largest checking account balances. What we can infer off of this is that The Century National Bank locations in Atlanta could have less of a variety in terms of accounts. It makes sense that more people have higher checking account balances when the variety of other bank accounts are scarce or less popular because where else would they put their money? With that being said, what we suggest is that Atlanta could expand their variety on types of bank accounts to try and balance the scale. Cincinnati had the greatest number of accounts but had the lowest mean. What this meant was that it had the lowest number of checking account balances. What we suggested to solve this problem was to create more incentives for people to create checking account balances, thus increasing the number of checking accounts being made as well as a proper balance between the amounts of checking balance accounts with other bank account options. The Century National Bank has never stopped giving excellent customer service, and we hope this evaluation helped better understand the trends and characteristics that are going on within our