test statistic = Round to 4 decimal places. . What is the p-value for this sample? p-value = Round to 4 decimal places. - The p-value is... less than (or equal to) a greater than a - This test statistic leads to a decision to... reject the null O accept the null

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 28PPS
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Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services
on a 7-point scale (7 is the maximum). You are a manager with two consultants you are trying to compare.
Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. You want to test if
the consultant with less experience has a rating that is different than the more experienced consultant. So,
you collect independent samples of service ratings for these two financial consultants. Consultant A has 23
surveys with a mean of 6.77 and standard deviation of 0.68. Consultant B has 16 surveys with a mean of
6.34 and standard deviation of 0.67. You wish to test the claim at a significance level of a = 0.05.
a. What is the test statistic for this sample?
test statistic
Round to 4 decimal places.
b. What is the p-value for this sample?
p-value
Round to 4 decimal places.
c. The p-value is...
less than (or equal to) a
greater than a
d. This test statistic leads to a decision to...
reject the null
accept the null
fail to reject the null
e. As such, the final conclusion is that...
Transcribed Image Text:Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services on a 7-point scale (7 is the maximum). You are a manager with two consultants you are trying to compare. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. You want to test if the consultant with less experience has a rating that is different than the more experienced consultant. So, you collect independent samples of service ratings for these two financial consultants. Consultant A has 23 surveys with a mean of 6.77 and standard deviation of 0.68. Consultant B has 16 surveys with a mean of 6.34 and standard deviation of 0.67. You wish to test the claim at a significance level of a = 0.05. a. What is the test statistic for this sample? test statistic Round to 4 decimal places. b. What is the p-value for this sample? p-value Round to 4 decimal places. c. The p-value is... less than (or equal to) a greater than a d. This test statistic leads to a decision to... reject the null accept the null fail to reject the null e. As such, the final conclusion is that...
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