Lower/Upper Limit, Margin of error, Sampe Size.

Question

question

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 40 farming regions gave a sample mean of  = $6.88 per 100 pounds of watermelon. Assume that 𝜎 is known to be $1.94 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 = 0.45 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). Lower limit is 6.38

Upper limit is 7.38

Margin of error is 0.60

B). The sample size needed is 41

C). Lower limit is 6.86

Upper limit is 6.9

Margin of error is 0.02