Federal Reserve Board regulations permit banks to offer their clients commercial paper. A random sample of 650 customers of Bank of America reveals that 48 own commercial paper as part of their investment portfolios with the bank. A random sample of customers of Chemical Bank reveals that out of 480 customers, only 20 own commercial paper as part of their investments with the bank. Can you conclude that Bank of America has a greater share of the new market for commercial paper? Explain.
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