Confidence interval for population mean cash value of crop

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Reference no: EM13131438

What price do farmers get for their watermelon crops? In the third week of July, a random sample of 35 farming regions gave a sample mean of x = $6.88 per 100 pounds of watermelon. Assume that σ is known to be $1.96 per 100 pounds.

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

Reference no: EM13131438

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