Question

In: Statistics and Probability

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
n
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 3 years ago
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