Florida National Bank Essay

1205 words - 5 pages

Florida National Bank (FNB) operates branches in 65 cities and towns throughout Florida. The Bank offers range of financial services, including Visa and MasterCard credit cards. FNB has 62, 500 people in the state using its credit cards and based on certain application information, the bank has access to name, address, zip code, telephone number, income and assets. FNB wants to be able to more affectively target offerings sent through the mail, so the bank wants to determine if there is a relationship between the volume of purchases charged on credit cards and demographic characteristics of the individual cardholder; Paul Bruney is the research director for the bank and is in charge of this situation.The information is being sought to determine if individuals in certain parts of the state are more or less likely to be users of the card? Is there a relationship between the person's level of education and card usage? Or is there a relationship between the person's income and his of her level of income. This data can clarify it there is a significant relationship between demographic characteristics and purchase volume of a card holder.The relevant information already exists through primary data gathered through the initial application process. It is up to the researcher to evaluate this data and perform a probability sampling method to determine it there is a significant relationship.The questions can be answered by developing a sampling frame and using a probability sampling method that is appropriate for this bank's case.The research objectives are as follows: To develop a research design for the research. To collect specific data on FNB credit card holders by using a sampling method to determine if there is a relationship between the volume of purchases charged on credit cards and demographic characteristics of the individual cardholders. To evaluate this data and use it to effectively target offerings sent through the mail to cardholders.In order to develop an appropriate research design, the population of interest for the study must be defined. The population is the identifiable total set of elements of interest being investigated by a researcher and pertinent to the specified information problem. The population of interest for this study is the 62,500 people in the state of Florida that use the financial services of the bank including Visa and MasterCard credit cards.A sampling frame is the list of all eligible sampling units; the medium by which databases on consumers are obtained. Sampling frames that could be used for the project are: 1. the banks original applications. 2. The Visa and MasterCard credit card companies information on the individuals. 3. Commercial company that specializes in developing databases for companies.A simple random sampling is a probability sampling procedure that ensures that every sampling unit in the target population has a known, equal, nonzero chance of being selected. The procedure I would use to select a...

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