Managerial Statistics Math 533
The following statistical information is based on Data from the AJ Davis Dept. Store, who wanted to find out a little more about their credit customers. The Data is compromised of a sample of 50 credit customers based on five different variables
The 1st individual variable is based on location divided in 3 different categories. 1) Rural-which is an area outside of cities and towns. 2) Urban-pertaining to a city or a town and 3) Suburban-a residential district located on the outskirts of a city. According to the graph you have 26% of the population lives in the Rural area, 30% lives in the Suburban area and the largest 44% lives in the Urban. To sum it up the majority of the Credit Customers leaves in the Urban locations.
The first pairing is between Size and Income. Based on the Data at hand the graph shows that the size of people’s income is less than their household size. According to the Data people’s households have higher percentages than the money they bring in to support their households.
The 2nd Individual pairing shows a graph of credit balances based on the data provided. The Median credit balance is $4,090. The data starts with $1,864 as the lowest credit balance and the highest is $5,678. The range of the Credit balances is $1638.25
In the 2nd pairing based on the data provided. People who have lived in the same location the longest have high credit balances, than the majority of those that have the lowest credit balances and shortest time living in the same location.
The 3rd pairing based on the Data provided is Location and Credit Balances. Based on the chart the highest credit balance is out of the Urban location, which tends to have a higher population, where people would normally spend more. The lowest Credit Balance comes out of the Rural location where it is considered a…...