Q8: A dairy farmer is interested in knowing true mean December 2019 retail whole milk price ($/liter) for all Canadian cities. 50 cities were randomly selected to survey milk prices, and the average price was $3.8 per gallon. Assume that milk prices are normally distributed, and the population standard deviation is known to be $0.64 (o= 0.64). You are to construct a 99% confidence interval for the population mean. a. Construct the interval estimation. b. Determine the number of cities that must be sampled in order to estimate the true mean to within $ 0.22 with 99% confidence.
Q8: A dairy farmer is interested in knowing true mean December 2019 retail whole milk price ($/liter) for all Canadian cities. 50 cities were randomly selected to survey milk prices, and the average price was $3.8 per gallon. Assume that milk prices are normally distributed, and the population standard deviation is known to be $0.64 (o= 0.64). You are to construct a 99% confidence interval for the population mean. a. Construct the interval estimation. b. Determine the number of cities that must be sampled in order to estimate the true mean to within $ 0.22 with 99% confidence.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 1GP
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