Refer to the Banking Data.xls, which provides data acquired from banking and census records for different zip codes in the bank's current market. The data show the median age of the population, median years of education, median income, median home value, median household wealth, and average bank balance of customers. 1. Explain what kind of business decisions that can be taken by the bank based on analyzing the provided data. Please provide detailed examples. 2. Using SPSS software, summarize the variables in the data set using descriptive statistics measures of choice. Include a couple of measures of correlations as well. Write up your findings to the document used in the previous questions. 3. Develop a model to predict the average bank balance as a function of the other variables. Make sure all assumptions of conducting such an analysis are met with. You might need to adopt an iterative approach to obtain the best fitting model. Report your statistical findings in the same response document and interpret the same.

Refer to the Banking Data.xls, which provides data acquired from banking and census records for different zip codes in the bank's current market. The data show the median age of the population, median years of education, median income, median home value, median household wealth, and average bank balance of customers. 1. Explain what kind of business decisions that can be taken by the bank based on analyzing the provided data. Please provide detailed examples. 2. Using SPSS software, summarize the variables in the data set using descriptive statistics measures of choice. Include a couple of measures of correlations as well. Write up your findings to the document used in the previous questions. 3. Develop a model to predict the average bank balance as a function of the other variables. Make sure all assumptions of conducting such an analysis are met with. You might need to adopt an iterative approach to obtain the best fitting model. Report your statistical findings in the same response document and interpret the same. 4. Due date: Saturday, August 19,2023 by 11:59pm EST (Submission via email)