Question

Periodically, Merrill Lynch customers are asked to evaluate Merill Lynch financial consultants and services. Higher ratings on the client satisfactian 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 05 and test to see whether the consaltant with more experience has the higher population mean service rating Excel File: data10-17.xs Consultant A 10 1, 6.25 .75 n-16 6.82 4, -,64 a.State the null and alternative hypotheses Ho Ha o Select your ane b. Compute the value of the test statistic.(to 2 decimals) E. What is the p-value? (to 4 decimals) d. What is your conclusion? Check My Work

Answer 1

1)

a)

$Ho : \mu_A = \mu_B$

$Ha : \mu_A > \mu_B$

b)

Observed difference (Sample 1 - Sample 2): 0.57

Pooled Standard Deviation: 0.6833
Pooled DF: 24

TS = 2.0694 = 2.07

c)

p-value = P(T > TS) = 0.0494

d)

conclusion

we reject the null hypothesis as p-value < 0.05 (alpha)

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