Question
a. Compute the combined checking and savings account balance for each record. Then sort the records by the number of months as a customer of
a. Compute the combined checking and savings account balance for each record. Then sort the records by the number of months as a customer of the bank in descending order. Complete the table below with the missing values for the sorted, combined balances.
Loan Purpose | Checking | Savings | Months Customer | Combined Checking and Savings |
Business | nbsp 0 0 | 983983 | 49 | 983983 |
Furniture | 657657 | 732732 | 4949 | 13891389 |
Education | 964964 | 4 comma 7624,762 | 40 | 57265726 |
Small Appliance | 6 comma 5356,535 | 505505 | 37 | 70407040 |
Used Car | nbsp 0 0 | 122122 | 31 | 122122 |
Repairs | 219219 | nbsp 0 0 | 2828 | 219219 |
Furniture | nbsp 0 0 | 1 comma 2281,228 | 25 | 12281228 |
Small Appliance | 953953 | nbsp 0 0 | 25 | 953953 |
New Car | nbsp 0 0 | 826826 | 2525 | 826826 |
New Car | nbsp 0 0 | 382382 | 19 | 382382 |
Business | nbsp 0 0 | 523523 | 14 | 523523 |
Small Appliance | nbsp 0 0 | 739739 | 1313 | 739739 |
Furniture | 624624 | 354354 | 13 | 978978 |
New Car | nbsp 0 0 | 247247 | 13 | 247247 |
New Car | 399399 | 236236 | 13 | 635635 |
New Car | 708708 | 686686 | 1313 | 13941394 |
Furniture | 2 comma 9012,901 | nbsp 0 0 | 11 | 29012901 |
New Car | nbsp 0 0 | 3 comma 4683,468 | 11 | 34683468 |
Business | 328328 | 573573 | 10 | 901901 |
Education | 281281 | 12 comma 45312,453 | 7 | 1273412734 |
From examining the data, does it appear that customers with a longer association with the bank have more assets?
There
appears
to be a significant difference because the average amount in combined checking and savings for customers with greater than 24 months (2 years) of association with the bank is
$__________
and the average amount in combined checking and savings for customers with less than or equal to 24 months (2 years) of association with the bank is
$_______
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started