Peter Maffay

The outcome (Appendix C) shows that the mean of the independent variable Priimp is 3.76 whereas Expimp is 3.99. Having a significance of 0.018, it can be said that the price is slightly more important for the customer than the experience of the company. The test for paired sample correlation also reveals a correlation between both variables of 0.189. This indicates that the participants that consider one independent variable as important, rate the other as not being important.

It can indeed be shown that the null hypothesis can be rejected. Therefore there is a difference in the influence of price and experience on the attitude of the customer towards purchasing financial advice.

1.2. RQ6: "How much are consumers willing to pay for financial service advice on an hourly basis? "

To answer this research question, participants were asked to answer questionnaire question 6 to find out the "amount they are willing to pay for an hour of professional advise". Five options were presented to the participant of which each indicated a range of fifty euros. The lowest one ranged from zero to fifty euros whereas the last one included all amounts higher than 200 euros. However, our team realized that participants rarely chose amounts above 150€. Due to this unexpected outcome, our group decided to regroup the results in order to get more significant results. It was