In: Business and Management

Submitted By zstein
Words 406
Pages 2
Dear Ms. Lamberg,
Based on random data gathered from 60 of our customers from the Cincinnati, Ohio; Atlanta, Georgia; Louisville, Kentucky; and Erie, Pennsylvania branches we have successfully concluded that. Included below are graphs illustrating the account balances from each of the accounts analyzed. The average customer has a balance between $1500 and $2000 with twelve accounts exceeding the $2000 balance.

The Cincinnati branch observed a mean or average account balance of $1281
With minimum balance being $343 and a max balance of $1913. Of the data observed the Median of the data is $1397 which more realistically shows the middle point of account balances, this is due in part to the unusually low $343 balance observed in one of the accounts.
The Atlanta Branch showed the greatest average account balance of the four branches researched totaling at $1879. With a minimum of $1125 and max of $2409 the data shows that the median is 1958. Louisville showed an average or mean account balance of $1359 and a median account balance of $1504. Lastly the Erie branch shows an average account balance of $1406 with a median of $1487. After considering that data we can assume that the account balances will be greater in Atlanta than the other cities. The average account balance for all four branches was $1499 along with a median of $1604. Analyzing the data as a whole shows a range of account balances of 2525. This number comes from the largest account balance of $2557 and subtracting the smallest account balance of $32. This number gives you a good idea of how big of a difference we have between clients account balances. The standard deviation is the square root of the variance which the variance is the arithmetic mean of the squared deviations from the mean. Therefore the standard deviation from the local branches was $591.91. The first quartile is $1123.75…...

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