In: Statistics and Probability
Periodically, Merrill Lynch customers are asked to evaluateMerrill Lynch financial consultants and services (2000 MerrillLynch Client Satisfaction Survey). Higher ratings on the clientsatisfaction survey indicate better services, with 7 the maximumservice rating. Independent samples of service ratings for twofinancial consultants are summarized here. Consultant A has 10years of experience, whereas consultant B has 1 year experience.Use α = 0.05 and test to see whether the consultant with moreexperience has the higher population mean service rating. ConsultantA Consultant B n1=16 n2 =10 x1 =6.82 (with bar overx) x2 = 6.25(with bar over x) s1 =0.7 s2 = 0.8 a.) State the null and alternative hypothesis. b.) compute the value of the test statistic.