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What price do farmers get for their watermelon crops? In the third week of July, a...

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Statistics

What price do farmers get for their watermelon crops? In thethird week of July, a random sample of 40 farming regions gave asample mean of x = $6.88 per 100 pounds of watermelon. Assume thatσ 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? (Round your answersto two decimal places.) lower limit $ upper limit $ margin of error$

(b) Find the sample size necessary for a 90% confidence levelwith maximal error of estimate E = 0.33 for the mean price per 100pounds of watermelon. (Round up to the nearest whole number.)farming regions

(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 2000 pounds.(Round your answers to two decimal places.) lower limit $ upperlimit $ margin of error $

Answer & Explanation Solved by verified expert
3.8 Ratings (534 Votes)
Solution Given that 688 100 pounds 688 188 100 pounds 188n 40a At 90 confidence level the z is 1 90 1 090 010 2 010 2 005Z2 Z005 1645Margin of error E Z2 1645    See Answer
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