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
120 online banking customers use a savings account. what is the conditional
relative frequency of online banking customers who primarily use a savings
account?

Explanation:

Step1: Calculate the number of online banking customers

Given that there are 300 online - banking customers.

Step2: Calculate the conditional relative frequency

The formula for conditional relative frequency is \( \text{Conditional Relative Frequency}=\frac{\text{Number of favorable cases}}{\text{Total number of cases in the condition}} \).
Here, the number of favorable cases (online banking customers using savings account) is 120 and the total number of cases in the condition (online banking customers) is 300.
So, \( \text{Conditional Relative Frequency}=\frac{120}{300} = 0.4\)

Answer:

0.4