Assignment: Marketing Research
New Mexico National Bank
New Mexico National Bank (NMNB) operates branches in 23 cities and towns throughout the state of New Mexico. The bank offers a complete range of financial services, including Visa and Mastercard credit cards. New Mexico National Bank (NMNB) has 53,400 people in the state using its credit cards. Based on their original applications, the bank has certain information about these individuals. This includes their name, address, zip code, telephone number, income, education, and assets. NMNB is interested in determining whether a relationship exists between the volume of purchases charged on credit cards and the demographic characteristics of the individual card holders. For example, are individuals in certain part of the state more or less likely to be heavy users of the card? Is there a relationship between a person's income and his or her level of card usage? Is there a relationship between the person's level of education and card usage? The data can be used to more effectively target offerings sent through the mail if significant relationships are found. Paul Bruney, research director for NMNB, is in the process of developing a design for the research. If you were Paul Bruney, how would you answer the following questions?
I. How would you define the population of interest for the study?
II. What probability sampling method might you use for the project? Why would you choose that option?
III. Frame two different hypothesis for the study to be able to answer at least two questions posed by Paul Bruney. Clearly state the null hypothesis, alternate hypothesis, dependent and independent variables for both the hypothesis to get full points.
IV. Using the data in the attached spreadsheet, test one of the hypothesis you have formed above. State all assumptions including level of significance and one test statistic chosen to get full points.
V. What would be your recommendation to NMNB based on your analysis above?
VI. Discuss the top ethical and privacy issues you need to be concerned about as you manage this study.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.