Four types of checking accounts are offered by one bank....

Four types of checking accounts are offered by one bank. Suppose that recently a random sample of 300 bank customers was surveyed and asked several questions. It was found that $60 \%$ of the respondents preferred Easy Checking; $12\%$, Intelligent Checking; 18\%, Super Checking; and the remainder, Ultimate Checking. Of those who selected Easy Checking, 100 were females; one-third of the respondents who selected Intelligent Checking were males; half of the respondents who selected Super Checking were males; and $80 \%$ of respondents who selected Ultimate Checking were males. a. Describe the data with a cross table. b. Describe the data graphically.

Four types of checking accounts are offered by one bank. Suppose that recently a random sample of 300 bank customers was surveyed and asked several questions. It was found that $60 \%$ of the respondents preferred Easy Checking; $12\%$, Intelligent Checking; 18\%, Super Checking; and the remainder, Ultimate Checking. Of those who selected Easy Checking, 100 were females; one-third of the respondents who selected Intelligent Checking were males; half of the respondents who selected Super Checking were males; and $80 \%$ of respondents who selected Ultimate Checking were males.
a. Describe the data with a cross table.
b. Describe the data graphically.

Key Concepts

Contingency Table

A contingency table, also known as a cross table, is used to display the frequency distribution of variables and show the relationship between two or more categorical variables. It is particularly useful in revealing patterns in data by organizing counts according to the categories, which can then be analyzed to identify associations or differences between groups.

Categorical Data Analysis

Categorical data analysis involves summarizing and analyzing data that can be separated into different categories. This analysis uses frequency counts and proportions, providing insights into how often each category occurs. It is fundamental in survey studies and customer assessment where responses are non-numerical and are grouped into distinct classes.

Graphical Data Representation

Graphical data representation refers to the process of using visual tools to present data in an easily understandable format. In the context of categorical data, charts such as bar graphs or pie charts are typically used to illustrate the frequency or proportion of responses across categories, enhancing the interpretability of the data.

Bar Charts and Pie Charts

Bar charts and pie charts are common graphical methods for displaying categorical data. A bar chart visually represents the quantity of items in each category using bars of different heights, while a pie chart shows the proportional contribution of each category to the whole. Both are effective in summarizing and comparing the sizes of different categorical groups.

Transcript

00:01 Hello students here we have our question that four types of checking accounts are offered by one bank and there are 300 customers we take a random sample of 300 customers from 300 customers 60 % customers preferred easy checking and from 60 % hundred hundred were male females 12 % of 300 prefers intelligent checking and one third of those 12 % is male 18 % of the customers prefer super checking and of those 50 % is male and 10 % of those 50 % is male and 10 % of 300 customers preferred ultimate checking and 80 % of those 10 % is male.

01:10 So we have to describe a cross table for this given data and we will show it graphically.

01:21 So first of all we will construct our cross table.

01:25 We know that there are four types of accounts checking, easy, intelligent, super and ultimate and we know that according to our given data that 60 % prefers easy checking 12 % prefer intelligent checking 18 % prefer super checking and 10 % prefers ultimate checking so we will find that here that the data tell us this that hundred were females of 60 percent.

02:07 So we will find that how many males will be there.

02:11 It's given that there are 100 females out of 60 percent.

02:18 To find that we will first of all we will find that 60 percent 60 upon hundred multiply by 300 we will see that how many people are there who preferred easy checking.

02:38 So zero cancel three zero three eight three six one eighty there are one eighty people who preferred is checking then we will see for twelve percent twelve upon hundred multiplied by three hundred zero zero cancel three times twelve thirty six we will as usual we will check for eighteen percent it is upon hundred 30000 cancel 3 times 18 54 then we will see for 10 % and it gives us 30 so here we find the total number of customers who prefer the who preferred easy checking intelligent super checking and ultimate checking so now we will find that how many males and how many females are there so in our given data they told us that out of 60 % hundred people will prefer a hundred percent hundred hundred hundred females prefer easy checking so here we know that there are total 180 customers who prefer easy checking so we will subtract 180 minus hundred it gives us 80 so there are 80 males who prefer easy checking.

04:17 Then we will see for the second intelligent checking that there are out of 12, one third of 12 % were male...

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