1.We are managing a large soy bean farm. To estimate our revenues for the coming year, we need to estimate our crop yield. Soy bean yields are measured by pods/plant. We are planning for a yield of 40 pods/plant.We take a random sample of 82 soy bean plants and get a sample yield of 42.2 pods/plant with a sample standard deviation of 7.6 pods/plant.

a Use Minitab to find the correct t multiplier (copy this into your paper), then compute by hand a 95% confidence interval for our population yield based on this sample.

b.Interpret the interval.Are we 95% confident based on this interval, that we will have a yield of at least 40 pods/plant?

c. Suppose that, at current market prices, we will sell our soybeans for $0.38/lb. Suppose that 100 pods produce a pound of soybeans.Based on this and your confidence interval above, give a 95% confidence interval for our sales revenue per plant.What additional information is needed to estimate the total revenue for the upcoming harvest?