Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
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Question
3. The U.S. Department of Agriculture uses many types of surveys to ob- tain important economic estimates. In one pilot survey they estimated wheat prices in July and in September using independent samples. Here is a summary from the report: month July September sample size sample mean 45 90 $3.61 $2.95 st.dev. $0.20 $0.22 (a) Is there a statistically significant difference between July and Septem- ber wheat prices? Also, report the approximate p-value. (b) Give a 95% confidence interval for the change in price between July and September.
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Transcribed Image Text:3. The U.S. Department of Agriculture uses many types of surveys to ob- tain important economic estimates. In one pilot survey they estimated wheat prices in July and in September using independent samples. Here is a summary from the report: month July September sample size sample mean 45 90 $3.61 $2.95 st.dev. $0.20 $0.22 (a) Is there a statistically significant difference between July and Septem- ber wheat prices? Also, report the approximate p-value. (b) Give a 95% confidence interval for the change in price between July and September.
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