Question

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 45 farming regions gave a sample mean of x bar = $6.88 per 100 pounds of watermelon. Assume that σ is known to be $1.90 per 100 pounds. (a) Find a 90% confidence interval for the population mean price (per 100 pounds) that farmers in this region get for their watermelon crop (in dollars). What is the margin of error (in dollars)? (For each answer, enter a number. Round your answers to two decimal places.) lower limit $ upper limit $ margin of error $ (b) Find the sample size necessary for a 90% confidence level with maximal error of estimate E = 0.31 for the mean price per 100 pounds of watermelon. (Enter a number. 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 this crop (in dollars). What is the margin of error (in dollars)? Hint: 1 ton is 2000 pounds. (For each answer, enter a number. Round your answers to two decimal places.) lower limit $ upper limit $ margin of error $

Answer #1

a)

Sample mean = x = 6.88

Population SD = cr = 1.9

Sample size =n = 45

Significance Level = α = 0.1

Critical value =z* = 1.645

Standard Error =σ / √n = 0.2832

b)

Margin of Error = z*( 6 = 0.47 nJ

Lower Limit = x -(Margin of Error)= 6.41

Upper Limit =x+ (Margin of Error= 7.35

Population SD = cr = 1.9

Margin of Error = E = 0.31

Confidence Level = 90

Signffiamce Level = a = 0.1

Critical Value= z* = 1.645

Sample Size = n = (Z * σ / E)^2 =101.65

c)

Lower Limit = 6.4 * 15*2000 /100 = 1923

Upper Limit = 7.35* 15*2000/100 = 2205

ME= 0.47 *15 *2000/100 =141

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third week of July, a random sample of 41 farming regions gave a
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that σ is known to be $1.96 per 100 pounds.
(a) Find a 90% confidence interval for the population mean price
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watermelon crop (in dollars). What is the margin of error (in...

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third week of July, a random sample of 41 farming regions gave a
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that σ is known to be $2.00 per 100 pounds. (a) Find a 90%
confidence interval for the population mean price (per 100 pounds)
that farmers in this region get for their watermelon crop (in
dollars). What is the margin of error (in...

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third week of July, a random sample of 40 farming regions gave a
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that σ is known to be $1.90 per 100 pounds. (a) Find a 90%
confidence interval for the population mean price (per 100 pounds)
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third week of July, a random sample of 41 farming regions gave a
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that σ is known to be $2.00 per 100 pounds.
(a) Find a 90% confidence interval for the population mean price
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