Answered step by step
Verified Expert Solution
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 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 72 = 10 X1 = 6.84 *2 = 6.29 S1 = 0.67 $2 = 0.75 (a) State the null and alternative hypotheses. OHo: M1 - H2 > 0 OHo: M 1 - 12 so Ha: H 1 - H2 >o OHo:My - H2 so Ha: M 1 - H2 = 0 O Ho: M1 - H2 = 0 Ha: H 1 - H2 + 0 OH: M 1 - 12 = 0 Ha: H1 - H2 = 0 (b) Compute the value of the test statistic. (Round your answer to three decimal places.) 1.878 (c) What is the p-value? (Round your answer to four decimal places.) p-value =
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started