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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

Given:Sample size, n = 40Sample mean, xb = $6.88Population std. deviation, σ = $1.92 (known)Confidence interval = 90% Assume normal distribution for the population.The confidence interval is(xb + 1.645*(σ/√n), xb – 1.645*(σ/√n)= (6.88 + (1.645*1.92)/√40, 6.88 – (1.645*1.92)/√40)= (7.38, 6.38) Answer: The 90% confidence interval is (7.38, 6.38)

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Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (cpi) is currently 110. this indicates the price of the market basket of goods and services is now:

The Contribution Margin per unit (CM) can be calculated from the difference of Selling Price per unit (SP) and Total Expenses per unit (TE).   First, let’s calculate the value of SP: SP = Sales / Units sold SP = $1,043,400 / 22,200 units sold SP = $47   Second, …

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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: C. Yes, because the population values appear to be normally distributed. Step-by-step explanation: Given is a graph which shows the distribution of values of a population The graph has the following characteristics i) Bell shaped ii) symmerical about mid vertical line iii) Unimodal with mode = median =mean iv) …

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