Question

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

Answer 1

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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