Century National Bank
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 addresses these questions. 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 independent sample of 30 customers from representative branches. In addition to the balance in each account at the end of last month, you determine: ( 1) The number of ATM (automatic teller machine) transactions in the last week of the month; 2) the number of other bank services (a savings account, a certificate of deposit, etc.) each customer uses; 3) whether the customer has a debit card (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, which varies by banking location). The sample includes customers from the branches in Cincinnati, Ohio; Atlanta, Georgia; Louisville, Kentucky; and Erie Pennsylvania. (Note: the database can be accessed on Sakai; it is not necessary to reenter the data) On the basis of this analysis, Mr. Zobus has asked Ms. Helton for recommendations as to what changes should be implemented. For example, regarding (1), above, should the number of ATMs be increased