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Case memo - Statistics Project Example

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Every Financial institution has a legal and social responsibility to serve all communities and banks are obliged to serve adequately both inner-city and suburban neighborhoods, both poor and wealthy communities. A number of questions arise recently such as “Do New Jersey banks…
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Download file to see previous pages... This data represent 21 New Jersey counties.
This report will examine correctness of the charge that New Jersey banks have been withdrawing from urban areas with a high percentage of minorities. For this, I will use Asbury Park Press compiled county by county data and summarize this data set using scatter diagram and the descriptive statistics and presents findings in this memo. The importance of this study is to test whether banks serve their own communities.
A scatterplot is created taking “x” as the percentage of the population within each county that is minority and “y” as people in each county per branch bank within the county. Figure 1 shows the scatter diagram of minority percentage (independent variable x) against the number of people per bank branch (dependent variable y). There appears a strong direct positive relationship between the number of people in county per branch bank and the percentage of minority population in county.
The R2 value of 0.5265 indicates that about 52.65% of the variation in the number of people in county per branch bank is explained by the percentage of minority population in county. This is a strong effect. However, the other 47.35% of the variation in the number of people in county per branch bank remains unexplained.
The slope coefficient of regression of 35.89 suggests that for every percent increase in minority population in the county, the number of people per bank branch increases by about 36 on average. The intercept coefficient of regression of 2082 suggests that for no minority population in the county, the number of people per bank branch will be about 2,082 on average.
The p-value for “x” variable the percentage of minority population in the county is 0.0002, which is less than 0.01. Therefore, the percentage of minority population in the county significantly predicts the number of people in county ...Download file to see next pagesRead More
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