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April 17, 2014

Homework Help: Statistics

Posted by Desperate on Saturday, July 7, 2012 at 3:53pm.

In the third week of July, a random sample of 61 farming regions gave a sample mean of = $6.88 per 100 pounds of watermelon. Assume that is known to be $1.72 per 100 pounds. A farm brings 30 tons of watermelon to market. Find a 98% confidence interval for the population mean cash value of this crop, if the confidence interval for the mean per 100 pounds is $6.37 to $7.39. Round your answer to the nearest cent. Hint: 1 ton is 2000 pounds.
Answer
a. $424.67 to $492.67
b. $38,220.00 to $44,340.00
c. $191.10 to $221.70
d. $3822.00 to $4434.00
e. $382,200.00 to $443,400.00

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