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 x-bar = $6.88 per 100 pounds of watermelon. assume that s is known to be $1.92 per 100 pounds?

Given that a random sample of 40 farmers gave a sample mean of received by farmers per 100 pound of watermelon. Assume that σ is known to be $1.92 per 100 pounds.

Part A:

The 90% confidence interval for the population mean price (per 100lbs) that farmers get for their watermelon crop is given by:



The margin of error is $0.50

The 99% confidence interval for the population mean price (per 100lbs) that farmers get for their watermelon crop is given by:



A longer confidence interval should be expected for a higher confidence, because the longer the interval, the more likely it will contain the true population mean.

Part B

Recall that 300 times 100 lbs = 15 tons.

The 90% confidence interval for the population mean price (per 15 tons) that farmers get for their watermelon crop is given by:



The margin of error is $0.50 x 300 = $150

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