Answer to Question #16415 in Statistics and Probability for Shane Dorms
From a random sample of 15 farmer’s markets in the Montreal?area you determine that the average price for pumpkins is $4.52 per kg with a standard deviation of $2.20 per kg.
d) Construct a 98% confidence interval for the average price of pumpkins in the Montreal-area if the statistics remained unchanged despite the fact that 20 more pumpkins were added to the original sample and determine if it differs significantly from that of the rest of the country.
e) Construct a 95% confidence interval for the average price of pumpkins in the Montreal-area if a new sample of 15 pumpkins yields a sample mean of $4.52 per kg. and a standard deviation of $2.50 per kg. Determine if it differs significantly from that of the rest of the country.
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