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211-01-02+Class+14+HW9

# 211-01-02+Class+14+HW9 - HOMEWORK 9 Exercise 17 page 422-3...

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HOMEWORK 9 Exercise 17, page 422-3 Issue: Customer satisfaction with two Merrill Lynch financial consultants: A (10 yrs exp) & B (1 yr exp) BusQues: Is the mean satisfaction service rating higher for A (more experienced consultant) than B? Data: Two different samples of clients of A and B: A B Each providing a satisfaction rating: 16 10 (7-point satisfaction scale) 6.82 6.25 0.64 0.75 0.41 0.56 Analysis: Two Sample t-Test (1) Note that Ha is a mathematical re-statement of the Bus Ques. (2) Test Statistic = df = 16.95 or 17 fm Notes 2-1: (3) Sig Level: alpha = 0.05 (4) Reject Rule: "Reject Ho if t > 1.740 =TINV(0.1,17) (5) Calculations: t = 1.992 p-value = 0.031 =TDIST(1.992,17,1) (6) Conclusion REJECT Ho. the mean satisfaction rating for consultant A is higher than that for consultant B. From the relatively small samples, the mean client satisfaction ratings were: Consultant A: 6.82 (out of 7) Consultant B: 6.25 (out of 7) n A = n B = x-bar A = x-bar B = s A = s B = s A 2 = s B 2 = Ho: μ A - μ B <= 0 where μ 's refer to the mean service rating by all customers Ha: μ A - μ B > 0 (1) t = ((x-bar A -x-bar B ) - 0)/(s A 2 /n A + s B 2 /n B )^.5 (2) If Ho true ( μ A = μ B ), this test statistic is t distributed with df we can calculate.

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211-01-02+Class+14+HW9 - HOMEWORK 9 Exercise 17 page 422-3...

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