Your initial investment of $20,000 doubles after 10 years. If
1 answer:
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Answer:
See the explanation
Step-by-step explanation:
(a)
H0: Consultant with more experience has the higher population mean service rating.
H1: Consultant with more experience doesn't have the higher population mean service rating.
(b)
t = 1.9923 (see the attached image)
(c)
The degrees of freedom for the test statistic,
df = 16
The P-value of the one tailed t- test with 16 degrees of freedom is,
P−value = tdist(X,df,tails)
P-value = tdist(1.9923,16,1)
P-value = 0.032
(d)
Since, P-value 0.032 is less than the significance level 0.05, there is an enough evidence to reject the null hypothesis.
Hence, there is a sufficient evidence to conclude that Consultant with more experience doesn't have the higher population mean service rating.
Hope this helps!
