What price do farmers get for their watermelon crops? In thethird week of July, a random sample of 39 farming regions gave asample mean of x = $6.88 per 100 pounds of watermelon.Assume that ? is known to be $1.88 per 100 pounds.
(a) Find a 90% confidence interval for the population mean price(per 100 pounds) that farmers in this region get for theirwatermelon crop. What is the margin of error?
(b) Find the sample size necessary for a 90% confidence level withmaximal error of estimate E = 0.29 for the mean price per100 pounds of watermelon.
(c) A farm brings 15 tons of watermelon to market. Find a 90%confidence interval for the population mean cash value of thiscrop. What is the margin of error? Hint: 1 ton is 2000pounds.
