Creating spreadsheet models is an art that requires practice. Below there are various great examples of things that can be done with spreadsheet. Some numbers and details have been changed so please use the information provided within this file and the files posted in Sakai. Each group must complete all problems by the due date to receive full credit. Please designate one member of the group to post the final group answers in Sakai under the appropriate Assignment link. You can attach multiple files to the assignment submission.

Provide your answers in a single Word document and an accompanying Excel spreadsheet.

1. The worksheet Base Data in the Excel file Credit Risk Data provides information about 425 bank customers who had applied for loans. The data include the purpose of the loan, checking and savings account balances, number of months as a customer of the bank, months employed, gender, marital status, age, housing status and number of years at current residence, job type, and credit-risk classification by the bank.

1. Use the COUNTIF function to determine (1) how many customers applied for new-car, used-car, business, education, small-appliance, and furniture loans and (2) the number of customers with checking account balances greater than $950.

Modify the spreadsheet using IF and AND functions to include new columns, classifying the checking and savings account balances as low if the balance is less than $1000, medium if between $1000 but less than $4000, and high otherwise.