Anova Testing of Atm Tranactions by Debit and Non-Debit Card Holders

Many of our time rely on credit and debit cards when purchasing items. While the two seem identical to one another, failure to know the difference can result in an economic catastrophe on the card owner's part. Debit cards are used as a way to spend money that the consumer already has by withdrawing the purchase amount directly from their account. On the other hand, credit cards allow the card owner to borrow money from the bank, in which the card is issued, up to a certain amount in order to make a purchase which they will pay back to the bank at a later date.

Objective: To find out the risk of customers using bank accounts and provide methods for mitigation of the highest priority residual risk.

Chase, like other banks, has sought to increase the methods of payment processing available to the general public and business clients. These products include debit cards, prepaid cards, smart cards, and credit cards. However, with convenience of easy credit, there is also increased risk that consumers will mismanage their financial resources and accumulate excessive debt. Banks make money from card products through interest payments and fees charged to consumers and transaction fees to companies that accept the credit- debit - cards. This helps in making

Consumer Research, Inc. is investigating whether there is any correlation between specific characteristics of credit card users and the amount these users charge on credit cards. Their objective is to determine if these characteristics can accurately predict the annual dollar amount charged by credit card users. Data was collected from a sample of 50 credit card consumers presenting information on the annual income (referred as Income), size of household (referred as Household), and the annual credit card charges (referred as Charges) for these consumers. A statistical analysis; including a descriptive, simple regression, and multiple regression tests, of this data was performed and the findings are presented below. Due to the

Noise pollution is an environmental problem that can threaten the health and well-being of everyone exposed. The O'Hare International Airport (ORD) is a bustling airport in Chicago, Illinois, that appears to have issues with noise pollution. In 2014, O’Hare received over 268,000 complaints about the jet noise that came from the airport. By comparison, that is more than 11 times the number of complaints that the John F. Kennedy International Airport (JFK) received, and JFK received the second highest number of complaints (O’Hare, 2016). O’Hare was the fourth busiest airport in the world in 2015, so increased noise may be an expected cost of business (List, 2017). The O’Hare Noise Compatibility Commission has been working

This is an essay on the short story “Soldier’s Home” by Hemingway. Will the life of a soldier ever be the same after returning from war? Many generations of young adults have gone from their homes with tranquil settings to experience war and come home to a different world. Many have witnessed the devastations and atrocities that occur with war. Harold Krebs, a young man from a small town with a loving family is no different from those before him and those to follow. The anguish of what war is however cannot dispel the thoughts and memories of what many young men come home to face in the real world. Many have trouble coping in the new world known as home.

During the past decade, we have undergone enormous changes in the way that we conduct business. ATM check cards, credit cards, and preferred customer cards are the most common buying tools today. Check, or debit, cards are ATM cards that function just like cash. Customers can now make payments with their check cards

ATM machines with exorbitant fees have been thought to be acting as highway robbers, now they may even have a thieving companion; Card scanners. By stealing the information off the credit card as it is swiped the consumer is not even aware they have been attacked. Even if the consumer is careful to hide their hand as they enter the PIN in order to withdraw money from an ATM, the larcenist might still have a hidden camera or card reader to steal the card information. Erin Lowry, a content director for a popular magazine was a victim of two different attacks on her credit identity; she had $600 stolen from her account after using a shady ATM with a hidden scanner inside. The use of a low security ATM is a consumer error, but with everyday stresses sometimes common sense is abandoned in place of convenience. Larcenists will place these scanners inside ATM’s located in low socioeconomic areas with the intent to instantly copy the card numbers onto an embedded micro storage

To investigate further, samples of customers in each of the categories were selected. The number of ATM transactions last month was determined

In fact there is a very slight, insignificant difference between the two. For example the mean is higher for customers that don’t have a debit card than for one’s who do, 10.35 against 10.23. We notice that the difference between these two numbers is very slight. In addition, the maximum and minimum of customers that use ATMs with or without debit cards, helps prove the same point. The minimum for customers that don’t have debit and do have them is the same, 2. However the maximum is different. Customers that do have debit cards is 20, whereas the maximum for customers that don’t is 18. Once again the difference is so small that it is not relevant or important.

Having an electronic banking card is great, if one is ever in a difficult situation it is easily accessible and a reliable ally. However, this tool should not be used every day. Simply by carrying around cash it will be much easier to monitor the amount of money that is being spent on a daily basis. This leads to less money being spent over longer periods of time. Carrying around a twenty dollar bill forces a person

Many financial institutions across the world have adapted to the change towards the cashless society by implementing electronic funds transfer via automated teller machines (ATM’s) and of late, the internet. By having a simple plastic card, society could completely eliminate the need for cash. The benefits range from the end user through to the government and the

In the article “Credit or debit: pick your plastic,” by Lisa Gerstner, the issue the author writes about is the importance of consumers knowing the difference between debit cards, credit cards and prepaid cards. If consumers do not understand the difference between the three cards and the way to use them, they could end up in financial disaster. If the consumer understands the card, then it can be useful and can be used to the consumer’s advantage.

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

secular increase in the dissemination and use of credit cards, raising at least the possibility that