The Jones State Bank is planning to add a branch office on the west side of Edmond,Oklahoma.The bank has done a survey of local residents near the area where it wants to build the branch office and has discovered that most residents are in their 50's and 60's.Which factor would this address when considering whether to add a new branch?
A)Traffic count
B)Number of retail shops
C)Average age of the local population
D)Population Density
E)Population Growth

Question

Quizplus · Accepted Answer

The age of the local population is important to consider because it can affect the banking services and products that the new branch offers. For example, if the majority of residents are in their 50's and 60's, they may be looking for services such as retirement planning or investment advice, which the bank could tailor their products to meet these specific needs. Therefore, this factor should be taken into account when deciding whether to add a new branch.

The Jones State Bank Is Planning to Add a Branch