The Fred National Bank is planning to add a branch office on the west side of town.The bank has done a survey and has discovered that the mean household income in the area is $76,000 per year.Which factor would this address when considering whether to add a new branch?
A)Number of retail shops
B)Average income level of households
C)Ratio of population to branches
D)Number of service facilities operated by financial service competitors
E)Population density

Question

Quizplus · Accepted Answer

The bank is considering adding a new branch office in the area based on the mean household income level. This factor is related to the financial capacity of the potential customers to avail the bank's services. Thus, the average income level of households is the most relevant factor in this scenario.

The Fred National Bank Is Planning to Add a Branch