Tests of significance :: A new stockbroker (XYZ) claims that his brokerage fees are lower than that of your current stock broker's (ABC). Data available from independent research form indicates that the mean brokerage fee of all ABC broker clients is $18. A sample of 100 clients is taken and brokerage charges are calculated with the new rates of XYZ broker. Suppose that the mean brokerage fee of the sample is $18.75 and standard deviation is $6, does the sample give enough evidence in support of XYZ's claim?
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