A firm hires a pool of financial consultants to discuss portfolio recommendations with its clients. The CEO believes that another financial consultant should be hired if the average phone consultation exceeds 350 seconds. A random sample of 100 phone calls revealed a mean of 375 seconds. The population standard deviation is 150 seconds. Should another financial consultant be hired? Use a 5% significance level.
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I got 1.66667 so we should hire a new consultant?
Yes. See your other post for more detail.
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