Homework Help: Statistics

Posted by Desperate on Saturday, July 7, 2012 at 3:55pm.

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 51 farming regions gave a sample mean of = $7.08 per 100 pounds of watermelon. Assume that is known to be $1.80 per 100 pounds. Find a 99% confidence interval for the population mean price (per 100 pounds) that farmers in this region get for their watermelon crop. Round your answer to the nearest cent.
Answer
a. $6.93 to $5.93 per 100 pounds
b. $6.89 to $7.27 per 100 pounds
c. $6.99 to $7.17 per 100 pounds
d. $6.83 to $7.33 per 100 pounds
e. $6.43 to $7.73 per 100 pounds

Statistics - PsyDAG, Sunday, July 8, 2012 at 10:57am
99% = mean ą 2.575 SEm

SEm = SD/√n

It would help if you proofread your questions before you posted them.

"Assume that is known to be $1.80 per 100 pounds."?

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