You may need to use the appropriate technology to answer this question. 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. ConsultantA Consultant B n- 16 n2- 10 x - 6.83 x2 - 6.28 $- 0.68 52- 0.75 (a) State the null and alternative hypotheses. O Ho: H1 - H2 * 0 O Hoi H, - H2>o O Mo: H-Hzso O Ho: H- H2-0 O Mo: H - H2so (b) Compute the value of the test statistic. (Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) nuvalue
You may need to use the appropriate technology to answer this question. 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. ConsultantA Consultant B n- 16 n2- 10 x - 6.83 x2 - 6.28 $- 0.68 52- 0.75 (a) State the null and alternative hypotheses. O Ho: H1 - H2 * 0 O Hoi H, - H2>o O Mo: H-Hzso O Ho: H- H2-0 O Mo: H - H2so (b) Compute the value of the test statistic. (Round your answer to three decimal places.) (c) What is the p-value? (Round your answer to four decimal places.) nuvalue
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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
Transcribed Image Text:**Evaluating Financial Consultant Experience on Service Ratings**
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 as the maximum service rating. Independent samples of service ratings for two financial consultants are summarized below. Consultant A has 10 years of experience, whereas Consultant B has 1 year of experience. Use a significance level of α = 0.05 to test whether the consultant with more experience has the higher population mean service rating.
**Summary Table:**
| | Consultant A | Consultant B |
|-----------------|--------------|--------------|
| Sample size | \(n_1 = 16\) | \(n_2 = 10\) |
| Mean rating | \(\bar{x}_1 = 6.83\) | \(\bar{x}_2 = 6.28\) |
| Standard deviation | \(s_1 = 0.68\) | \(s_2 = 0.75\) |
**Tasks:**
(a) **State the Null and Alternative Hypotheses:**
- \(\text{H}_0: \mu_1 - \mu_2 = 0\)
- \(\text{H}_a: \mu_1 - \mu_2 > 0\)
(b) **Compute the Value of the Test Statistic:**
- Calculate and round your answer to three decimal places.
(c) **Calculate the p-value:**
- Round your answer to four decimal places.
These analytical steps will help determine if the difference in years of experience significantly affects the service ratings of the consultants.
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