SUMMARY OUTPUT

Regression Statistics
Multiple R
0.764686
R Square
0.584745
Adjusted R Square
0.554545
Standard Error
398.3887
Observations
60

By using regression analysis we can now estimate or predict the a

know the number of ATM transactions, the number of other servic
individual has a debit card, and whether interest is paid on the
Y=174.9+90.47X1+59.99X2+161.01X3+218.83X4

ANOVA
df
Regression
Residual
Total

Intercept
X Variable
X Variable
X Variable
X Variable

1
2
3
4

SS
MS
F
Significance F
4 12292186 3073046 19.36222 5.45E-010
55 8729247 158713.6
59 21021433

Coefficients
Standard Error t Stat
174.9196
167.053
1.04709
90.47132 12.45237
7.26539
59.99157 27.42721 2.187301
161.0168 108.4159 1.485177
218.8341 119.9287 1.824701

P-value
0.299638
1.39E-009
0.03299
0.143207
0.073479

mate or predict the account balances if we

mber of other services used, whether the
terest is paid on the particular account.

1X3+218.83X4

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.753719
R Square
0.568092
Adjusted R Square
0.544954
Standard Error
402.6548
Observations
60
ANOVA
df
Regression
Residual
Total

Intercept
X Variable 1
X Variable 2
X Variable 3

SS
MS
F
Significance F
3 11942104 3980701 24.55239 2.85E-010
56 9079329 162130.9
59 21021433

Coefficients
Standard Error t Stat
P-value Lower 95% Upper 95%
228.6878 164.8293 1.387423
0.17081 -101.5048 558.8805
89.78497 12.57704 7.138798 2.04E-009 64.59013 114.9798
67.66317 27.22485 2.485346 0.015955 13.12524 122.2011
178.3047 118.0332 1.510632 0.136505 -58.14426 414.7538

Lower 95.0%
Upper 95.0%
-101.5048 558.8805
64.59013 114.9798
13.12524 122.2011
-58.14426 414.7538

SUMMARY OUTPUT
Regression Statistics
Multiple R
0.741951
R Square
0.550491
Adjusted R Square
0.534719
Standard Error
407.1577
Observations
60
ANOVA
df
Regression
Residual
Total

Intercept
X Variable 1
X Variable 2

SS
MS
F
Significance F
2 11572120 5786060 34.90258 1.27E-010
57 9449313 165777.4
59 21021433

Coefficients
Standard Error t Stat
P-value Lower 95% Upper 95%
258.2924 165.4903 1.560771 0.124113 -73.09621 589.6811
91.43272 12.66977 7.216602 1.39E-009 66.06194 116.8035
67.88313 27.52892 2.465885
0.0167 12.75743 123.0088

Lower 95.0%
Upper 95.0%
-73.09621 589.6811
66.06194 116.8035
12.75743 123.0088

Table 1
x1 = Account balance in $
x2 = Number of ATM transactions in the month
x3 = Number of other bank services used
x4 = Has a debit card (1 = yes, 0 = no)
x5 = Receives interest on the account
X6 = City where banking is
N
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33

X1
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

X2
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

X3
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

X4
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

X5
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

X6
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

34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60

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

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

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

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

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

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

X6
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3

X1
748
1501
1886
1593
1474
1913
1218
1006
343
1494
580
1320
1784
1044
890
1708
1756
2125
1995
1526
1746
1616
1958
1675
1885
2204
2409
1338
2076
2375
1125
1989
2156
1831
740
1554
137
2276
2144
1053

A c c o u n t B a la n c e ($ )

1. Develop a graph or table that portrays the checking balances. What is the balance of a typical
customer? Do many customers have more than $2,000 in their accounts? Does it appear that there is a difference in th

3000
2500
2000
1500
1000
500
0
0

1. A typical customer has a balance of about

2. Only 12 customers have balances above $
3. It appears that accounts in City 2 have hig
CI
Less than 500
500 - 1000
1000 - 1500
1500 - 2000
2000 - 2500
2500 - 3000

F
4
7
15
22
11
1

4. The balances tend to cluster around $1000

3
3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
4
4
4
Mean =

1120
1838
1735
1326
1790
32
1455
1622
1169
2215
167
2557
634
789
2051
765
1645
1266
2138
1487
1499.87

that there is a difference in the distribution of the accounts among the four branches? Around what value do the account balances

2
City

er has a balance of about $1499.87

rs have balances above $2000.
counts in City 2 have higher balances. The other 3 cities are almost on par.

d to cluster around $1000 to $2000.

do the account balances tend to cluster?

2. Determine the mean and median of the checking account balances. Compare the mean and the median balances for
1
X6
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3

X1
748
1501
1886
1593
1474
1913
1218
1006
343
1494
580
1320
1784
1044
890
1708
1756
2125
1995
1526
1746
1616
1958
1675
1885
2204
2409
1338
2076
2375
1125
1989
2156
1831
740
1554
137
2276
2144
1053
1120

Branch 1:

Mean =
Median =

1281.38
1397.00

Branch 2:

Mean =
Median =

1879.65
1958.00

Branch 3:

Mean =
Median =

1359.36
1504.50

Branch 4:

Mean =
Median =

1423.46
1487.00

Total:

Mean =
Median =

1499.87
1604.50

2 Mean of the account balances is $1499.27 an

Both mean and median balances are the leas

For city 2, the mean balance in the account i
balance is $1958, both being greater than th
median is greater than the mean. The differe
balance is the least for city 4.

3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
4
4
4

1838
1735
1326
1790
32
1455
1622
1169
2215
167
2557
634
789
2051
765
1645
1266
2138
1487

he median balances for the four branches. Is there a difference among the branches? Be sure to explain the difference between th

nces is $1499.27 and median is $1604.50

alances are the least for city 1 and highest for city 2.
nce in the account is $1879.65 and the median
eing greater than the overall avegaes. In all cases,
he mean. The difference between mean and median
ty 4.

e difference between the mean and the median in your report.

3. Determine the range and the standard deviation of the checking account balances. What do the first and third quart

X6
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3

X1
748
1501
1886
1593
1474
1913
1218
1006
343
1494
580
1320
1784
1044
890
1708
1756
2125
1995
1526
1746
1616
1958
1675
1885
2204
2409
1338
2076
2375
1125
1989
2156
1831
740
1554
137
2276
2144
1053
1120

1
Maximum =
Minimum =
Standard Deviation =
I Quartile =
III Quartile =

Range of the balances in the a

The range shows the differe
standard deviation shows how

3
3
3
3
3
3
4
4
4
4
4
4
4
4
4
4
4
4
4

1838
1735
1326
1790
32
1455
1622
1169
2215
167
2557
634
789
2051
765
1645
1266
2138
1487

. What do the first and third quartiles show? Determine the coefficient of skewness and indicate what it shows. Because Mr. Seli

Maximum =
Minimum =
Range =
ndard Deviation =
I Quartile =
III Quartile =
Skew =

2557.00
32.00
2525.00
596.90
1123.75
1924.25
-0.6164

Range of the balances in the accounts is $2525 and the standard deviation is $596.36.
The range shows the difference between the highest and the lowest balances. The
tandard deviation shows how spread the data is, on an average, from the mean value.

I quartile value of $1123.75 shows that the lowest 25% of the balances are
below $1123.75. The III quartile value of $1924.25 shows that the top 25%
of the account balances exceed $1924.25.

shows. Because Mr. Selig does not deal with statistics daily, include a brief description and interpretation of the standard deviati

n of the standard deviation and other measures.