Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction Survey). 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 = .05 and test to see whether the consultant with more experience has the higher population mean service rating. Consultant A Consultant B = 16 = 10 = 6.82 = 6.25 = 0.58 = 0.7 State the null and alternative hypotheses.H0: 1 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 1Ha: 1 - 2 Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 2 Compute the value of the test statistic (to 2 decimals). What is the p-value? Use z-table.The p-value is Selectless than .005between .005 and .01between .01 and .025between .025 and .05between .05 and .10between .10 and .20greater than .20Item 4 What is your conclusion?SelectThe consultant with more experience has a higher population mean ratingCannot conclude the consultant with more experience has a higher rating

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Description: Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction Survey). Higher ratings on the client satisfaction survey indicate better service with 7 the maximum

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction Survey). 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 = .05 and test to see whether the consultant with more experience has the higher population mean service rating.

Consultant A		Consultant B
= 16		= 10
= 6.82		= 6.25
= 0.58		= 0.7

State the null and alternative hypotheses.
H₀: ₁ - ₂ Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 1
H_a: ₁ - ₂ Selectgreater than 0greater than or equal to 0less than 0less than or equal to 0equal to 0not equal to 0Item 2
Compute the value of the test statistic (to 2 decimals).
What is the p-value? Use z-table.
The p-value is Selectless than .005between .005 and .01between .01 and .025between .025 and .05between .05 and .10between .10 and .20greater than .20Item 4
What is your conclusion?
SelectThe consultant with more experience has a higher population mean ratingCannot conclude the consultant with more experience has a higher rating

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