Question

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 43 farming regions gave a sample mean of x = $6.88 per 100 pounds of watermelon. Assume that σ is known to be $1.96 per 100 pounds.

(b) Find the sample size necessary for a 90% confidence level with maximal error of estimate E = 0.35 for the mean price per 100 pounds 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 this crop. What is the margin of error? Hint: 1 ton is 2000 pounds. (Round your answers to two decimal places.)

Answer 1