In the third week of July, a random sample of 40 farming regions gave a sample...

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 sigma is known to be $1.92 per 100 pounds. Find a 90% confidence interval for the population mean price per 100 pounds that farmers in this region get for their watermelon crop.

Find each of the following:

x-bar

std dev

Confidence Level

Margin of Error

Point Estimate

Lower Limit

Upper Limit

Interpret the confidence interval in the context of the problem.

Please give excel functions used. Thank you for your help!

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Expert Solution

orchestra answered 2 years ago

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