Visualizing customer longevity
Now that you see that savings has a peak with roughly equal "tails" to the left and right, let's explore another variable in the data: "Retention". The bank measures "retention" of each customer, which measures how long a customer stays with the company. This measure can be one aspect of a healthy bank because there is a lot of cost associated with acquiring and setting up new accounts.
When you made the savings histogram the peak was centered around ~1400. This sample data ranges from 1 to 65 months so the peak will be different, and you should note how the "tails" look in this visual. Additionally, review the mean and mode to see if they are as close to each other as the previous exercise.
This exercise is part of the course
Introduction to Statistics in Google Sheets
Exercise instructions
- In cell
F1
, calculate the mean retention. - In cell
F2
, calculate the median retention and compare it to the mean. What do you expect the histogram to look like as a result? - Insert a histogram in the highlighted region to view the tails of the data.
Hands-on interactive exercise
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