The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category,
Question:
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The following table, stored in FinancialComplaints 1, represents complaints received from Louisiana consumers by complaint category for 2016.
Category Number of Complaints
Bank Account or Service...........................................202
Consumer Loan.........................................................132
Credit Card.................................................................175
Credit Reporting........................................................581
Debt Collection..........................................................486
Mortgage....................................................................442
Student Loan................................................................75
Other.............................................................................72
a. Construct a Pareto chart for the categories of complaints.
b. Discuss the “vital few” and “trivial many” reasons for the categories of complaints.
The following table, stored in FinancialComplaints2 , represents complaints received from Louisiana consumers by most-complained-about companies for 2016.
Company Number of Complaints
Bank of America.....................................................42
Capital One.............................................................93
Citibank...................................................................59
Ditech Financial......................................................31
Equifax..................................................................217
Experian...............................................................177
JPMorgan..............................................................128
Nationstar Mortgage.............................................39
Navient....................................................................38
Ocwen.....................................................................41
Synchrony...............................................................43
Trans-Union..........................................................168
Wells Fargo.............................................................77
c. Construct a bar chart and a pie chart for the complaints by company.
d. What graphical method (Pareto, bar, or pie chart) do you think is best for portraying these data?
Step by Step Answer:
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan