Math Solutions

(See Solution) Periodically, Merrill Lynch customers are asked to evaluate Merrill Lynch financial consultants and services (2000 Merrill Lynch Client Satisfaction

Question: 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 the consultant B has 1 year of experience.

Use α=.05, and test to see whether the consultant with more experience has the higher population mean service rating.

Consultant A Consultant B

n 1 =16 n 2 =10

sample mean 1 =6.82 sample mean 2 =6.25

s 1 =.64 s 2= .75

  1. State the null and alternative hypotheses.
  2. Compute the value of the test statistic.
  3. What is the p -value?
  4. What is your conclusion?

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