Exercise 12: The American Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 55 pounds with a standard deviation of 20 pounds. a. What is the best estimate of the population mean? 55 c. For a 98 percent confidence interval, what is the value of t? Exercise 12 [part 2]: d. Develop the 95 percent confidence interval for the population mean. 55 + e. Would it be reasonable to conclude that the population mean is 67 pounds? no