Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and services. Higher ratings on the client satisfaction survey indicate

image text in transcribed
Periodically, customers of a financial services company are asked to evaluate the company's financial consultants and services. 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 a = 0.05 and test to see whether the consultant with more experience has the higher population mean service rating. Consultant A Consultant B n, = 16 n2 = 10 X, = 6.83 X, = 6.26 51 = 0.64 $2 = 0.75 (a) State the null and alternative hypotheses. O Ho: H1 - H2=0 H:H - H2# 0 OH:H - 42#0 Hik - H2=0 OHOH - H2>0 Hip - H2SO OHOH - H2 So Hik, - H2 20 OHOH - H2so H:H - H2 =0 (b) Compute the value of the test statistic. (Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) p-value = (d) What is your conclusion? O Do not reject Ho. There is insufficient evidence to conclude that the consultant with more experience has a higher population mean rating. O Reject Ho. There is sufficient evidence to conclude that the consultant with more experience has a higher population mean rating. O Reject Ho. There is insufficient evidence to conclude that the consultant with more experience has a higher population mean rating. O Do not Reject Ho. There is sufficient evidence to conclude that the consultant with more experience has a higher population mean rating

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finite Mathematics and Its Applications

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

12th edition

978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632

More Books

Students also viewed these Mathematics questions