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 α = .05 and test to see whether the consultant with more experience has the higher population mean service rating.
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Consultant A
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Consultant B
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n1 = 16
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n2 = 10
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x1‾= 6.82
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x2‾= 6.25
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s1 = .64
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s2 = .75
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a. State the null and alternative hypotheses.
b. Compute the value of the test statistic.
c. What is the p-value?
d. What is your conclusion?