Banking Firms

In many banking firms, multiple branches and locations are located in various parts of certain cities and in various cities in particular states. At these different banking locations, each of the service centers will have a different list of banking services that particular center can offer to its banking customers. Popular banking services can include offers such as online banking, automatic bill-pay, direct deposit, overdraft protection, online bank statement, debit card, consumer loan, home equity/ line of credit, and mortgage/ construction loan. The benefits of these banking services are that these provide the banking institution with more connections to the client, through more avenues, in order to create a more loyal client. The customer also receives many of these services at no additional cost, so these services are purely for the accounting assistance of the client. Because certain banks and certain branches within the same institution offer different banking services at each of these locations, different cities are going to have banks with an increased level of banking services to offer clients affecting the amount of customers taking advantage of these services.

In this experiment, the data has been collected from the 60 accounts at the Century National Bank. The researchers in this study are interested in using the data to evaluate the median usage of banking services in different cities. A non-parametric hypothesis test also referred to as a distribution-free test, “usually focuses on the sign or rank of the data rather than the exact numerical value of the variable, do not specify the shape of the parent population, can often be used in smaller samples, and can be used for ordinal data.