Question

bank survey
a regional bank is analyzing its customer base to improve its services and
offerings.
the bank categorizes its customers based on their preferred banking
method (online vs. in person) and their primary account type (checking vs.
savings). here is the collected data for a sample of 600 customers:

• 300 customers prefer online banking, with 180 primarily using a

checking account.

• the total number of customers who prefer in - person banking and

primarily use a savings account is 150.
the bank is interested in understanding the distribution and preferences of
its customers to tailor its marketing strategies more effectively.
based on the data, what is the marginal relative frequency of customers
preferring in - person banking?

Explanation:

Step1: Find the number of customers preferring in - person banking

The total number of customers is \(n = 600\). The number of customers preferring online banking is \(300\). So the number of customers preferring in - person banking \(=600 - 300=300\)

Step2: Calculate the marginal relative frequency

The formula for marginal relative frequency \(=\frac{\text{Number of customers preferring in - person banking}}{\text{Total number of customers}}\)
Substitute the values: \(\frac{300}{600}=0.5\)

Answer:

\(0.5\)