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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 a = 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 = 6.85 x 2 = 6.25 S1 = 0.68 $2 = 0.75 (a) State the null and alternative hypotheses. O Ho: H1 - M2 = 0 Ha: M1 - 12 # 0 OHO: M 1 - 12 + 0 Ha: M1 - H2 = 0 O HO: M 1 - H2 so Ha: M 1 - H 2 > 0 OHO: M 1 - M2 so Ha: M1 - H2 = 0 JW NN NN NNNNNN- - O Ho: H1 - M2 > 0 Ha: M1 - H2 so (b) Compute the value of the test statistic. (Round your answer to three decimal places.) w w (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 sufficient evidence to conclude that the consultant with more experience has a higher population mean rating. 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. NNN
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