ple of price do farmers get for their watermelon crops? In the third week of Jul
ID: 3205449 • Letter: P
Question
ple of price do farmers get for their watermelon crops? In the third week of July, a random sample of 37 farming regions gave a sample mean of $6.88 per 100 pounds of watermelon. Assume that o is known to be $1.88 per 100 pounds. a) Find a 90% confidence interval for the popula mean price (per 100 pounds) that farmers in this region get for their Watermelon crop. What is the margin of error? (Round your answers to two decimal places.) lower limit 6.37 upper limit 7.39 margin of error (b) Find the sample size necessary for a 90% confidence level with maximal erro r of estimate E 0.39 for the mean price per 100 pounds of watermelon. (Round up to the nearest whole number.) X farming regions mean cash value of (c) A farm brings 15 tons of watermelon to market. Find a 90% confidence interval for the popula this crop. What is the margin of error? Hint: 1 ton is 2000 pounds. (Round your answers to two decimal places lower limit upper limit margin of errorExplanation / Answer
ans=
Price the farmers get for their watermelon crops = $6.88 per 100 pounds
90% confidence interval for price of 100lbs watermelon is
(xbar - 1.645sigma/sqrtn, xbar + 1.645sigma/sqrtn)
= (6.88 - 1.645*1.88/sqrt37, 6.88 + 1.645*1.88/sqrt37)
= (6.88-3.09/6.08 , 6.88+3.09/6.08)
= (6.88-0.50822, 6.88+0.50822)
= (6.3717, 7.888)
For 15tons = 30000lbs 90% confidence interval is
(30000*6.3717/100, 30000*7.888/100) = ($1911, $2366.4)
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