ACKNOWLEDGEMENT

This report has benefited from the generous contributions of time of many individuals. I would like in particular thank my Lecturer Mr. Mangala Fonseka without his support and guidance this project wouldn¶t have been a success. Special thanks go to Mr. Ryan Perera, Head of Private Banking, Pan Asia Bank and Mr. Asanka Theadore, Manager ± Operations, Pan Asia Bank, for spending their precious time in providing valuable information and sharing their knowledge and experience This note also acknowledges the extensive support of the many individuals at Pan Asia Banking Corporation PLC

Table of Contents
Ackonwledgement

1.0 Company Profile
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03

1.1 Organisational Problem

04

1.2 Objectives 2,0 Literature review

04 05

2,1 Distribution

05

2.2 Central Tendency

05

2.3 Dispersion 3.0 Presentation of Data

06 07

4.0 Analysis of Data

08

5.0 Findings and Recommendation Annexure

10 12

References

14

1.0 Company Profile
Pan Asia Banking Corporation PLC is a public limited liability company incorporated in Sri Lanka on 6th March 1995 under the company s act of No.17 of 1982 and reregistered under the companies act No.07 of 2007. A licensed commercial bank and listed in the Colombo stock exchange.

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Despite the challenging economic conditions Pan Asia Bank has shown positive signs towards growth, its major strengths are its Human capital and Liquidity management which in turn have contributed towards reaching many milestones. Company s unique mission is to create the largest satisfied customer base by providing professional, personalized, secure, quality banking and financial services, using modern technology and innovative products. With excellent service quality standards and personalized services to its customers has allowed them to widen the customer portfolio. Key Highlights  Record earnings: Gross Income grew by 19% to reach Ts. 3862 Mn and Operating profit up by 69% to Rs. 874 Mn.  Strong Balance Sheet : Total Assets grew by 14% to Rs. 21,559 Mn  Customer Deposits grew by 13% to Rs. 16,329 Mn  Recognition Award: Ranaviru Harasara project was awarded with a Merit from the Ceylon Chamber of Commerce.  A year of change with several key changes in personnel, processes and improvement in controls. Today Pan Asia s branch network has widen to 37 online branches and is embarking on an ambitious branch expansion programme by expanding the services across the country specially in the North and East and has plans for significant growth for the next two years.

1.1 Organizational Problem
Competition within the banking industry is intensifying; today banks are keen in ensuring that their customers are offered with innovative products backed up by excellent customer service. Hence its essential that these standards are set at all levels in the business.

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Regional Manager of Pan Asia was interested in studying the performance of a newly opened branch, hence he requested the branch manager to present him a report on the number of accounts opened on an average per week.

1.2 Objectives
Based on the requirement the branch manager was able to collect the required sets of data for the past 30 weeks in order to compute the average. With the little knowledge of statistics he has presented the below mentioned objectives.

a.) To organize and present the data in such a manner in order to be more and comprehensible and useful. b.) To evaluate and comment on the distribution of the accounts being opened. c.) Calculate the Average no of accounts by using an appropriate technique. d.) Computation of an appropriate measure of dispersion. e.) Possibilities of using the positional values (quartiles, median and the mode as averages with associate measures of dispersion.

2.0 Literature review on Descriptive Statistics
In order to carry out the above analysis the Descriptive statics will be used, it is essential to understand what descriptive statistics is all about before it is been put into practice.

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Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample and the measures. Together with simple graphics analysis, they form the basis of virtually every quantitative analysis of data. There are three major characteristics of a single variable
y y y

The Distribution The Central tendency The Dispersion

2.1 The Distribution. The distribution is a summary of the frequency of individual values or ranges of values for a variable. The simplest distribution would list every value of a variable and the number of persons who had each value. Distributions may also be displayed using percentages. For example
y y y

percentage of people in different income levels percentage of people in different age ranges percentage of people in different ranges of standardized test scores

2.2 Central Tendency. The central tendency of a distribution is an estimate of the "center" of a distribution of values. There are three major types of estimates of central tendency:
y y y

Mean Median Mode

The Mean or average is probably the most commonly used method of describing central tendency. To compute the mean is to add up all the values and divide by the number of values.

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The Median is the score found at the exact middle of the set of values. One way to compute the median is to list all scores in numerical order, and then locate the score in the center of the sample. The Mode is the most frequently occurring value in the set of scores. 2.3 Dispersion Dispersion refers to the spread of the values around the central tendency. There are two common measures of dispersion, the range and the standard deviation. The range is simply the highest value minus the lowest value. The Standard Deviation is a more accurate and detailed estimate of dispersion because an outlier can greatly exaggerate the range. The Standard Deviation shows the relation that set of scores has to the mean of the sample.

3.0 Presentation of Data
Presented below are the no of accounts opened for a period 30 weeks at a branch. 68
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36

08

36

27

34

116 88 97 67

46 21 32 34

21 38 09 15

41 40 17 36

19 41 29 17

25 37 15 26

No of Accounts (X) 00 and under 20 20 and under 40 40 and under 60 60 and under 80 80 and under 100 100 and under 120
Table:3.1. Frequency Distribution table

Tally score

Frequency (F) 7 14 04 02 02 01 = 30

With reference to the above table it can be stated that in 14 weeks a sum of 20 -40 accounts were opened. Whilst on a particular week the branch recorded 100 - 120 accounts.

In order to understand the above data graphically and in more comprehensive details Histograms are used. (Refer Section 4.0 Analysis of Data)

4.0 Analysis of Data

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Variable C1

Variance 658.88

CoefVar 67.79

Sum of Squares 62124.00

Range 108.00

Skewness 1.63

Kurtosis 2.54

Minitab was used to compute the measures of Central Tendency, Distribution and the Dispersion. (Refer annexure 1 for further reference)

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5.0 Findings and Recommendation

With reference to the frequency table 3.1 it can be noted that that in 14 weeks 46.6 % have recorded accounts in the range of 20 to 40 accounts. Further in one week 3.3 % have recorded accounts in the range of 100 to 120 accounts. When considering the measures of central tendency the arithmetic mean or the average was recorded at 37.87 indicates that the on an average 38 accounts are opened in a week. 15.5th item or in other words 15 accounts would have account values less than this figure the remaining 15, more than this figure, hence 15.5th item appeared in the class 20 and under 40 which was indicated as the median class and the median depicted at 34 which in turn means the midpoint of an arranged item. Studies suggest that arithmetic mean does not describe a distribution fully since at this instance a measure of dispersion needs to be introduced to explain the distribution in detail one such dispersion is the Standard Deviation it is simply a measure of the average dispersion of items from the mean value. Standard deviation was highlighted at 25.67 a relatively low value of standard deviation (in relation to mean i.e. 37.87) suggests that the average dispersion is low and therefore the items are closely spread (high degree of clustering) about the mean value. Standard deviation will now be compared against the mean value in order to assure the nature and degree of dispersion about the mean. In this study the mean value is 37.87 and the standard deviation is 25.67 so when comparing the standard deviation in relation to the mean as percentage the result would be the co efficient of variation i.e. SD/MEAN * 100 25.67/37.87 * 100 = 67.78 (Refer Section 4.0 Analysis: Descriptive Analysis). The first quartile in this data would be 20.5 which indicates that 25 % of the items lie below this value whilst third quartile represents 40.1 which signifies that 75 % of the items lie within 40.1. Another form of dispersion is the range which shows the distance or the gap within which the values of items lie i.e. Maximum value Minimum value = Range 116 08 = 108 (Refer Section 4.0 Analysis: Descriptive Analysis).

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A positive value of 1.63 indicates skewness to the right further A positive Kurtosis value of 2.5a typically indicates that the distribution has a sharper peak, thinner shoulders, and fatter tails than the normal distribution In conclusion the use of descriptive statistics on the above data gives us a very much detailed approach on how effectively it is been used to analyze Raw Data in minute details which in turn provides the company with vital information for strategic decision making.

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Annexure 1

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References 1. K.B.M. & Degamboda, S. (1992), Intodutory statistics for Managers, Colombo:PIM 2. Pan Asia Bank 2009, Annual Report 2009 3. Descriptive Statistics; http://www.socialresearchmethods.net/kb/statdesc.php [Retrieved on June 2010]

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