Question

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.
construct the relative frequency table on the given data. how many customers prefer in - person banking and primarily use a checking account?

Explanation:

Step1: Calculate relative frequency

Relative frequency = $\frac{\text{Frequency}}{\text{Total}}$
For customers who prefer in - person banking and primarily use a checking account: $\frac{150}{600}$

Step2: Simplify the fraction

$\frac{150}{600}=\frac{1}{4} = 0.25$

Answer:

$0.25$