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Check My Work (2 remaining) Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial...

  • Check My Work (2 remaining)

Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction Survey). Higher ratings on the client satisfaction survey indicate better service with 7 the maximum service rating. Independent samples of service ratings for two financial consultants are summarized here. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. Use  = .05 and test to see whether the consultant with more experience has the higher population mean service rating.

Consultant A Consultant B
  = 16   = 10
  = 6.82   = 6.25
  = 0.58   = 0.7
  1. State the null and alternative hypotheses.
    H0: 1 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 1
    Ha: 1 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 2
  2. Compute the value of the test statistic (to 2 decimals).

  3. What is the p-value? Use z-table.
    The p-value is Selectless than .005between .005 and .01between .01 and .025between .025 and .05between .05 and .10between .10 and .20greater than .20Item 4
  4. What is your conclusion?
    SelectThe consultant with more experience has a higher population mean ratingCannot conclude the consultant with more experience has a higher rating

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orchestra answered 1 year ago
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