SOLUTION: Statistical Techniques in Business & Economics (16th ed.) Chapter 7 Case A – Century National Bank A. Century National Bank Refer to the Century National Bank data. Is it reason

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Question 1079186: Statistical Techniques in Business & Economics (16th ed.)
Chapter 7 Case A – Century National Bank
A. Century National Bank
Refer to the Century National Bank data. 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 of 60 customers.
Compare the actual distribution with the theoretical
distribution. Cite some specific examples and comment on
your findings.
Divide the account balances into three groups, of
about 20 each, with the smallest third of the balances in the
first group, the middle third in the second group, and those
with the largest balances in the third group. Next, develop a
table that shows the number in each of the categories of the
account balances by branch. Does it appear that account
balances are related to the branch? Cite some examples
and comment on your findings.
Century National Bank Data:
Balance
1756
748
1501
1831
1622
1886
740
1593
1169
2125
1554
1474
1913
1218
1006
2215
137
167
343
2557
2276
1494
2144
1995
1053
1526
1120
1838
1746
1616
1958
634
580
1320
1675
789
1735
1784
1326
2051
1044
1885
1790
765
1645
32
1266
890
2204
2409
1338
2076
1708
2138
2375
1455
1487
1125
1989
2156

ATM
13
9
10
10
14
17
6
10
6
18
12
12
6
10
12
20
7
5
7
20
15
11
17
10
8
8
8
7
11
10
6
2
4
4
6
8
12
11
16
14
7
10
11
4
6
2
11
7
14
16
14
12
13
18
12
9
8
6
12
14
Services
4
2
1
4
6
3
3
8
4
6
6
7
5
3
4
3
2
4
2
7
4
2
3
7
4
4
6
5
2
4
2
7
1
5
7
4
7
5
8
4
5
6
4
3
9
0
7
1
5
8
4
5
3
5
4
5
4
4
3
5
Debit
0
1
0
0
0
0
0
1
0
0
1
1
0
1
0
1
0
0
0
1
1
0
0
0
1
0
1
1
0
1
1
1
0
1
1
0
0
0
0
1
1
1
0
0
0
0
0
0
0
0
1
1
1
0
0
1
1
1
0
1
Interest
1
0
0
1
1
1
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
0
1
0
1
0
1
0
0
0
0
0
0
1
0
0
0
0
1
1
0
1
0
0
1
0
0
0
0
0
1
0
1
0
0
1
0
City
2
1
1
3
4
1
3
1
4
2
3
1
1
1
1
4
3
4
1
4
3
1
3
2
3
2
3
3
2
2
2
4
1
1
2
4
3
1
3
4
1
2
3
4
4
3
4
1
2
2
2
2
1
4
2
3
4
2
2
2


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