A survey of 30 random households living in Oakbrook Village collected their annual spending on fertilizers. The
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Question:
A survey of 30 random households living in Oakbrook Village collected their annual spending on fertilizers. The data are listed below:
234 149 416 215 245 171 1277 162 153 244 179 131 286 152 2167 286 232 196 140 98 206 96 241 236 143 15 575 165 373 136
- Assume that we know the variance of fertilizer spending in Oakbrook Village is 160,000.
Construct an 88%-confidence-interval for the population mean of household fertilizer spending.
- Now assume the variance of fertilizer spending is unknown. Construct a 95%-confidence-interval for the population mean of household fertilizer spending.
- Do you think the 30 data points above are drawn from a normal distribution? Explain why or why not.
- Let's maintain the assumption that the variance of fertilizer spending is known at 160,000. Suppose we want to construct a 95% confidence interval for the population mean of fertilizer spending. How many households at least should we survey to keep the margin of error below 100.
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