Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services on a 7-point scale (7 is the maximum). You are a manager with two consultants you are trying to compare. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. You want to test the claim that the consultant with more experience has the higher mean service rating. So, you collect independent samples of service ratings for these two financial consultants. Consultant A has 21 surveys with a mean of 6.73 and standard deviation of 0.52. Consultant B has 26 surveys with a mean of 6.52 and standard deviation of 0.66. You wish to test the claim at a significance level of a = 0.005. a. What is the test statistic for this sample? test statistic = Round to 4 decimal places. b. What is the p-value for this sample? p-value = Round to 4 decimal places. c. The p-value is... O less than (or equal to) a greater than a d. This test statistic leads to a decision to... O reject the null O accept the null O fail to reject the null e. As such, the final conclusion is that... O There is sufficient evidence to warrant rejection of the claim that the first population mean is greater than the second population mean. O There is not sufficient evidence to warrant rejection of the claim that the first population mean is greater than the second population mean. O The sample data support the claim that the first population mean is greater than the second population mean. O There is not sufficient sample evidence to support the claim that the first population mean is

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Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services
on a 7-point scale (7 is the maximum). You are a manager with two consultants you are trying to compare.
Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. You want to test
the claim that the consultant with more experience has the higher mean service rating. So, you collect
independent samples of service ratings for these two financial consultants. Consultant A has 21 surveys
with a mean of 6.73 and standard deviation of 0.52. Consultant B has 26 surveys with a mean of 6.52 and
standard deviation of 0.66. You wish to test the claim at a significance level of a =
:0.005.
a. What is the test statistic for this sample?
test statistic =
Round to 4 decimal places.
b. What is the p-value for this sample?
p-value
Round to 4 decimal places.
c. The p-value is...
O less than (or equal to) a
O greater than a
d. This test statistic leads to a decision to...
O reject the null
O accept the null
O fail to reject the null
e. As such, the final conclusion is that...
O There is sufficient evidence to warrant rejection of the claim that the first population mean is
greater than the second population mean.
O There is not sufficient evidence to warrant rejection of the claim that the first population
mean is greater than the second population mean.
O The sample data support the claim that the first population mean is greater than the second
population mean.
O There is not sufficient sample evidence to support the claim that the first population mean is
greater than the second population mean
Transcribed Image Text:Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services on a 7-point scale (7 is the maximum). You are a manager with two consultants you are trying to compare. Consultant A has 10 years of experience, whereas consultant B has 1 year of experience. You want to test the claim that the consultant with more experience has the higher mean service rating. So, you collect independent samples of service ratings for these two financial consultants. Consultant A has 21 surveys with a mean of 6.73 and standard deviation of 0.52. Consultant B has 26 surveys with a mean of 6.52 and standard deviation of 0.66. You wish to test the claim at a significance level of a = :0.005. a. What is the test statistic for this sample? test statistic = Round to 4 decimal places. b. What is the p-value for this sample? p-value Round to 4 decimal places. c. The p-value is... O less than (or equal to) a O greater than a d. This test statistic leads to a decision to... O reject the null O accept the null O fail to reject the null e. As such, the final conclusion is that... O There is sufficient evidence to warrant rejection of the claim that the first population mean is greater than the second population mean. O There is not sufficient evidence to warrant rejection of the claim that the first population mean is greater than the second population mean. O The sample data support the claim that the first population mean is greater than the second population mean. O There is not sufficient sample evidence to support the claim that the first population mean is greater than the second population mean
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