7.1.08. (Need help with part C only) What price do farmers get for their waterme

Question

7.1.08. (Need help with part C only) What price do farmers get for their watermelon crops? In the third week of July, a random sample of 38 farming regions gave a sample mean of x = $6.88 per 100 pounds of watermelon. Assume that is known to be $1.90 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. What is the margin of error? (Round your answers to two decimal places.)

lower limit $ 6.37 Correct: Your answer is correct.

upper limit $ 7.39 Correct: Your answer is correct.

margin of error $ 0.51 Correct: Your answer is correct.

(b) Find the sample size necessary for a 90% confidence level with maximal error of estimate E = 0.31 for the mean price per 100 pounds of watermelon. (Round up to the nearest whole number.) 102 Correct: Your answer is correct. 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. What is the margin of error? Hint: 1 ton is 2000 pounds. (Round your answers to two decimal places.)

lower limit $

upper limit $

margin of error $

Explanation / Answer

( 0.51)(300) = ± 153 is the margin of error for 15 tons

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