Based on the research, a marketer tells a possible customer that with this new variety of corn they can expect to receive more than 130 bushels per acre, on average. Use the confidence interval to evaluate this statement

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28-02-2022
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Based on the research, a marketer tells a possible customer that with this new variety of corn they can expect to receive more than 130 bushels per acre, on average. Use the confidence interval to evaluate this statement

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raphealnwobi raphealnwobi · Answer 1 · 2022-03-09T10:28:53+01:00

This means that the research shows that 95% of the yield is between 118 to 130 bushels per acre. The mean is 124 bushels per acre and the margin of error is 6 bushels per acre.

Confidence interval

Given that 95% confidence interval for the true mean yield is 118 to 130 bushels per acre.

This means that the research shows that 95% of the yield is between 118 to 130 bushels per acre. The mean is 124 bushels per acre and the margin of error is 6 bushels per acre.

Hence:

μ ± E = (118, 130)

where μ is mean and E is margin of error

μ - E = 118 (1)

Also:

μ + E = 130 (2)

From both equations:

μ = 124, E = 6

The mean is 124 bushels per acre and the margin of error is 6 bushels per acre.

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