MATLAB: An Introduction with Applications
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ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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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
(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 thefarming 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 $
Expert Solution
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Step 1
Given:
Mean, = $6.88
Standard deviation, = $2.00
Sample size, n = 100
(a) 90% confidence interval:
For 90% CI, and critical value = using z-table.
Interval =
Margin of error:
Lower limit = 6.39
Upper limit = 7.73
Margin of error = 0.49
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