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   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 1Ha: 1 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 2 Compute the value of the test statistic (to 2 decimals). 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 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

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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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.
    H01 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 1
    Ha1 - 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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