There is a weak correlation between banking status on one hand, and the availability of banks and percentage of immigrants in a neighborhood on the other. When comparing boroughs, the Bronx has one of the lowest number of banks, and a relatively high percentage of immigrants. So, I expected that these two variables to be strongly correlated to unbanking.
The regression model showed that the effect of unemployment rate is insignificant. With a 95% level of certainty and controlling for the number of banks and ratio of foreign born residents, the model concluded the following:
- The average ratio of unbanked households in a neighborhood increases by 0.85 per 1% increase in unemployment ratio
- The average ratio of unbanked households in a neighborhood increases by 0.53 per 1% increase in poverty ratio.