The average commission charged by full-service brokerage firms on a sale of common stock is $144 (),
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Question:
The average commission charged by full-service brokerage firms on a sale of common stock is $144 (μ), and the standard deviation (σ) is $52. Joel Rogers has taken a random sample of 121 trades by his clients and determined that they paid an average commission (x̄) of $151. At the 0.10 significance level, can Joel conclude that his clients’ commissions are higher than the industry average?
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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