QUESTION 2. [7 marks] Two major banks, ABC and XYZ in Ontario, have referral program and give commission to their custom

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Question 2 7 Marks Two Major Banks Abc And Xyz In Ontario Have Referral Program And Give Commission To Their Custom 1 (118.66 KiB) Viewed 29 times

QUESTION 2. [7 marks] Two major banks, ABC and XYZ in Ontario, have referral program and give commission to their customers if they refer the bank services to their friends and families. An analyst suspects that the referral program of ABC was more successful compared to that of XYZ in 2021. He took a random samples of customers from both banks and observed that 110 out of 200 ABC customers came out of referral, while 60 out of 150 XYZ customers came out of referral. (a) At the 5% significance level, is there sufficient evidence to indicate that the proportion of referral customers of ABC is significantly higher than that of XYZ? Conduct an appropriate test using the critical value approach and comment on the suspicion of the analyst. (b) What are the assumptions of this test of hypothesis? (c) What is the p-value?