SOLUTION: What price do farmers get for the peach crops? in the third week of June, a random sample of 40 farming regions gave a sample mean of $6.88 per basket. assume that the standard dev
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Question 767140: What price do farmers get for the peach crops? in the third week of June, a random sample of 40 farming regions gave a sample mean of $6.88 per basket. assume that the standard deviation is known to be $1.92 per basket. find a 90% confidence interval for the population mean price per basket that farmers in this region get for their peach crop.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
What price do farmers get for the peach crops? in the third week of June, a random sample of 40 farming regions gave a sample mean of $6.88 per basket. assume that the standard deviation is known to be $1.92 per basket. find a 90% confidence interval for the population mean price per basket that farmers in this region get for their peach crop.
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sample mean = x-bar = 6.88
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ME = 1.645*1.92/sqrt(40) = 0.4994
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90% CI: 6.88-0.4994 < u < 6.88+0.4994
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Cheers,
Stan H.
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