what is the issue? to study the feasibility and level of public interest of installing an atm...
TRANSCRIPT
WHAT IS THE ISSUE?
To study the feasibility and level of public interest of installing an ATM machine, small branch office, or both, or neither, in the Durbin/Bartow, WV area for Citizens National Bank (“CNB”).
WHAT IS OUR GOAL?
Provide management with a tool to aid in their decision as well as our recommendation as a team.
WHAT IS THE SAMPLE?
678 questionnaires mailed. 93 received and usable – 14% response
rate. Consisted of people living in Pocahontas
County. Included zip codes of Durbin, Dunmore, Arbovale, Green Bank, and Bartow, WV.
OFTEN OCCAS. NEVER NO RESPONSE
Debit Card 17 18 58 0
ATM Card 13 22 51 7
Q: FREQUENCY OF CARD USE?
Q: RATE THE IMPORTANCE OF HAVING A BANK LOCATED IN THE BARTOW/DURBIN AREA.
VERY LEAST
IMPORTANT IMPORTANT
NO RESPONSE
MEAN RATING
Importance 1 2 3 4 5
Number of Respondents
47 8 8 5 22 3 2.38
Q: DETERMINE PUBLIC INTEREST
Yes No Maybe No Response
Would You Use a Bank?
61 25 5 2
Would You Use an ATM?
40 41 7 5
Q: WOULD YOU MOVE ACCOUNTS?
1%
5%
14%
33%
47%
Yes
No
Maybe
Already Have
No Response
THE TEST: CHI SQUARE
Yes No Maybe
Is it important to have a bank in the Bartow/Durbin area? 55 27 8 90
Would you use a bank in the Bartow/Durbin area? 61 25 6 92
Would you use an ATM in the Bartow/Durbin area? 41 42 7 90
Would you move accounts to a bank in the Bartow/Durbin area? 44 32 13 89
201 126 34 361
CHI SQUARE, CONT.
EXPECTED VALUES
50.11 31.41 8.476
51.22 32.11 8.665
50.11 31.41 8.476
49.55 31.06 8.382 361
CHI SQUARE, CONT. P Value 0.03
Rows 4
Columns 3
DF 6
Alpha 0.05
Critical Value 12.6
Chi Square 14.1
ASSESSMENT OF CHI SQUARE
There is a statistical significance between the questions asked and the answers given:
P VALUE is < .05 The Chi Square is more than the critical value
Therefore, a relationship exists between the variables.
So? What does that mean for management?
MANAGEMENT REPORT
Significant level of interest in locating a Citizens National Bank branch office or an ATM in the Durbin/Bartow area.
Branch office appears more lucrative to the public based on the answers to the questions.
BOTTOM LINE? Management should move forward to strongly consider locating a Citizens National Bank branch office in the Durbin/Bartow area.
WAS THE STUDY PERFECT?
No, we found several flaws in the results of our study.
In fact, the importance of locating a branch office in the Durbin/Bartow area is probably understated.
DID WE MEET OUR GOAL?
YES!