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Proportion of Oswego residents that view banks in a negative manner.
Generated Apr 28, 2013 by tmucky

For this Project I chose to find the proportion of Oswego residents that have a negative or positive view of the Banking Industry.

Email link:

I generated a paper survey that was given to customers and returned to bank staff within their visit.  I collected the data weekly and submitted their answers through the online survey form.  A total of 53 surveys were collected.  The survey questions were as follows:

1. Do you currently have a banking relationship?  Yes or No

2. Age group? 18-45 or 46-65

3. What services do you use with your bank? ex.(checking, savings, mortgage, credit cards) 

4. What was your view of banks before 2007?  Positive or Negative

5. What is your view of banks post 2007? Positive or Negative

6. Do you trust banks today?  Yes or No


My Hypothesis Conjecture statement was that more than 65% of Oswego residents have a negative view of banking today.

Here is the data collected from survey participants and compiled by StatCrunch.


The pie chart below represents people with Bank Relationships as asked in question 1.  As you can see a overwhelming majority of people, 98% do have service with a bank. (Nominal)



 The next pie chart below represents the age of customers as asked in question 2.  The age groups were derived from banking statistics that reflect two major areas within a persons financial lifetime. Almost 68% were between 18 and 45. (Ordinal)



 The next graph is a bar plot graph based on the results of questions 4 and 5 by age group (q2). These graphs reflect the shift in sentiment in 2007 and show by age group. (Nominal and Ordinal)




The last bar plot graph is based on question six by age range (q2).  81% do not trust banks today. (Nominal and Ordinal)





Sample Proportion = 38 / 53 = .716

Standard Deviation = 0.72(1-0.72)/53 = 0.617.

Hypothesis Test:

1.  Null Hypothesis and Alternative Hypothesis

      Ho = 0.65 and Ha < 0.65

2.  This is a left tailed test.

3.  Z score = √0.72(1-.072) / 53 = .617

     (0.716-0.65) = -0.066 / 0.617 =-.1069

4.  P score -.1069 rounded up to -0.11 which corresponds to 0.4562

5.  Reject or accept

Since P = .4562 and is greater than .05, we accept the null hypothesis that negative banking sentiment in Oswego is 65%. We have evidence to it.


The process of collecting data was given to bank staff at a local Oswego branch.  3 Tellers were given 30 paper based surveys for a total of 90, only 53 were completed and returned to me.  The other 37 surveys were also returned because they were not used, no surveys were incomplete.  I decided to go this route after very little response online. I decided to omit question 3 because it was not setup correctly within StatCrunch.  The year 2007 was used because of the market collapse time frame. Question 6 was based on the fact that the view is more related to bailouts and the fees that banks charge and comfort level of FDIC insurance rather than the real estate market and unemployment.  Most of the data collected is qualatative nominal.  Based on personal interaction with customers, I felt that negative sentiment was high in the area.  After collecting and compiling data my results were actually less than what I thought but still higher than my conjecture.  I have been in the financial industry for 10 years and sentiment has not been this negative in general but it seems worse in areas that have been hit the hardest by depreciation in real estate. 



Result 1: Pie Chart for Survey Participants With A Banking Relationship   [Info]
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Result 2: Frequency Table for Participants with Banking Relationships   [Info]
Frequency table results for Q1 Do you currently have a banking relationship?:
Q1 Do you currently have a banking relationship? Frequency Relative Frequency
No 1 0.018867925
Yes 52 0.9811321

Result 3: Pie Chart for Age Range   [Info]
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Result 4: Frequency Table of age range   [Info]
Frequency table results for Q2 Age group:
Q2 Age group Frequency Relative Frequency
18-45 36 0.6792453
46-65 17 0.3207547

Result 5: Bar plot with data 2 Graphs Representing Trust Before And After 2007 By Age   [Info]
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Result 6: Bar plot with data for Trust and Age Group   [Info]
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Result 7: Frequency Table for trust of banks   [Info]
Frequency table results for Q6 Do you trust banks today?:
Q6 Do you trust banks today? Frequency Relative Frequency
No 43 0.8113208
Yes 10 0.18867925

Result 8: Frequency Table for bank view after 2007   [Info]
Frequency table results for Q4 What is your view of banks post 2007?:
Q4 What is your view of banks post 2007? Frequency Relative Frequency
Negative 38 0.7169811
Positive 15 0.28301886

Result 9: Frequency Table for view of banks before 2007   [Info]
Frequency table results for Q4 What was your view of banks before 2007?:
Q4 What was your view of banks before 2007? Frequency Relative Frequency
Negative 6 0.11320755
Positive 47 0.8867925