Refer to data attachment
1. Century National Bank
Refer to data.
When Mr. Selig took over as president of Century several years ago, the use of debit cards was just beginning. He would like an update on the use of these cards. Develop a 95 percent confidence interval for the proportion of customers using these cards. On the basis of the confidence interval, is it reasonable to conclude that more than half of the customers use a debit card? Write a brief report interpreting the results.
See attachment Apendix.
2. Century National Bank
Refer to Data.
With many other options available, customers no longer let their money sit in a checking account. For many years the mean checking balance has been $1,600. Does the sample data indicate that the mean account balance has declined from this value?
Recent years have also seen an increase in the use of ATM machines. When Mr. Selig took over the bank, the mean number of transactions per month per customer was 8; now he believes it has increased to more than 10. In fact, the advertising agency that prepares TV commercials for Century would like to use this on the new commercial being designed. Is there sufficient evidence to conclude that the mean number of transactions per customer is more than 10 per month? Could the advertising agency say the mean is more than 9 per month?
The bank has branch offices in four different cities: Cincinnati, Ohio; Atlanta, Georgia; Louisville, Kentucky; and Erie, Pennsylvania. Mr. Selig would like to know whether there is a difference in the mean checking account balances among the four branches. If there are differences, between which branches do these differences occur?
Mr. Selig is also interested in the bank's ATMs. Is there a difference in ATM use among the branches? Also, do customers who have debit cards tend to use ATMs differently from those who do not have debit cards? Is there a difference in ATM use by those with checking accounts that pay interest versus those that do not? Prepare a report for Mr. Selig answering these questions.
3. The Century National Bank
Refer to the Century National Bank data. Using checking account balance as the dependent variable and using as independent variables the number of ATM transactions, the number of other services used, whether the individual has a debit card, and whether interest is paid on the particular account, write a report indicating which of the variables seem related to the account balance and how well they explain the variation in account balances. Should all of the independent variables proposed be used in the analysis or can some be dropped?
The solution provides detailed explanation how to perform the comprehensive statistical studies that include confidence intervals, hypothesis test, ANOVA and regression analysis.
Descriptive and Inferential Statistics: Consulting Firms
See attached files.
1. Differentiating Descriptive and Inferential Statistics
Resource: Iwamoto.Crews.Coe Virtual Organization portal
Access the ICC.zip file and select the Iwamoto.Crews.Coe consulting firm. Various companies have hired the firm to handle matters of organizational development, professional growth, and marketing. Go to the Iwamoto.Crews.Coe intranet site and review the following business problems:
o Organizational Development
Benedek Medical Technologies, Inc. - Knowledge Test Design
Haynes Medical Distribution - Employee Retention
Riordan Manufacturing - Leadership Traits
o Professional Growth
Loehr Equipment Co. - E-Learning Study
Review the information provided in the description of each business problem and identify which of the problems an Industrial / Organizational Psychologist would want to use descriptive statistics and which of the problems he/she would want to use inferential statistics.
Provide a paper that discusses the following:
o How descriptive statistics differ from inferential statistics and when it is appropriate to use each
o Key similarities and differences among the four business problems and how these similarities and differences influenced your decisions regarding the use of descriptive and inferential statistics
Submit the paper as a Microsoft Word attachment to your Individual forum.View Full Posting Details