17. Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch 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 rience, whereas consultant B has 1 year of experience. Use a = .05 and test to see whether the consultant with more experience has the higher population mean service rating. of expe- Mz Consultant A Consultant B n=16 X = 6.82 S, =.64 10 6.25 %3D $2 =.75 a. State the null and alternative hypotheses. b. Compute the value of the test statistic. What is the p-value? d. What is your conclusion? с.

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17. Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch 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 expe-
rience, whereas consultant B has 1 year of experience. Use a = .05 and test to see
whether the consultant with more experience has the higher population mean service
rating.
Mz
Consultant A
Consultant B
16
n = 10
X2=D6.25
$2=.75
6.82
S, = .64
%3D
State the null and alternative hypotheses.
b. Compute the value of the test statistic.
What is the p-value?
d. What is your conclusion?
a.
с.
Transcribed Image Text:17. Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch 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 expe- rience, whereas consultant B has 1 year of experience. Use a = .05 and test to see whether the consultant with more experience has the higher population mean service rating. Mz Consultant A Consultant B 16 n = 10 X2=D6.25 $2=.75 6.82 S, = .64 %3D State the null and alternative hypotheses. b. Compute the value of the test statistic. What is the p-value? d. What is your conclusion? a. с.
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