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

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

= 0.05

and test to see whether the consultant with more experience has the higher population mean service rating.

Consultant A Consultant B

n1 = 16

n2 = 10

x1 = 6.81

x2 = 6.29

s1 = 0.68

s2 = 0.75

(a)State the null and alternative hypotheses.

H0:

1 2 > 0

Ha:

1 2 0

H0:

1 2 = 0

Ha:

1 2 0

H0:

1 2 0

Ha:

1 2 = 0

H0:

1 2 0

Ha:

1 2 = 0

H0:

1 2 0

Ha:

1 2 > 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?

Reject H0. There is insufficient evidence to conclude that the consultant with more experience has a higher population mean rating.

Do not reject H0. There is insufficient evidence to conclude that the consultant with more experience has a higher population mean rating.

Reject H0. There is sufficient evidence to conclude that the consultant with more experience has a higher population mean rating.

Do not Reject H0. 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

Interconnection Networks

Authors: J C Bermond

1st Edition

1483295273, 9781483295275

More Books

Students also viewed these Mathematics questions