N P E F G M O Q B C D MILK COWS LAND LABOR MILK Small Land Medium Land Large Land 8472 18 24 4 70574 76144 91910 10196 24 22.5 Two Labors 105272 86695 10465 103314 22 32 120422 37600 125369 70574 19 12.5 102930 113214 145514 76144 21 31 Three Labors 13332 138093 224205 19 31.75 15258 161368 231090 7600 22 31.75 $4729 132311 103314 105272 19 14.75 Four Labors 101969 155154 196449 120422 24 15 122204 177268 205324 68749 18 37.75 35541 20 37.75 91910 25 37.75 110465 26 37.75 12536 27 37.75 159470 29 37.75 102930 24 22.5 113214 25 26.25 133328 28 20 140086 26 32.5 145514 28 31 15258 27 20 128304 21 22.5 13809 24 28.5 161368 27 28.5 208136 33 224205 32 53.75 W W W W W W W W W W W W W W W W W D D D D D D W W W W W W W W W W W W N N N N NN NN NNNNAA 23109 32 32.25 122204 22 22.5 132311 25 24 155154 26 25.5 177268 29 24 196449 29 51.25 205324 28 89 89562 17.5 94840 21 17.25 34997 23 20 97625 24 25.25 102226 28 17.5 103832 25 17.5 239673 39 62.5 239861 40 62.5 241298 40 39.5 249196 39 62.5 294455 42 72.5 318871 47 72.5 6483 19 17.5 100459 20 20 10384 21 20 154141 25 20 155516 31 37.5You are the CEO of a dairy company. You are planning to expand milk production by purchasing additional cows, lands and hiring more workers. A random sample of 50 farms owned by your company is collected on total milk production (in liters), the number of milking cows, land size (in acres) and the number of laborers. The data collected are contained in the Excel file milkproduction.xlsx. Question 1: Estimate the mean milk production for all farms (30 points] a. Construct the 95% condence interval estimate for the mean milk production for all farms and provide your interpretation. b. What assumptions must you make about the population distribution in order to construct the condence interval estimate in (a)? c. Test a claim at 5% significance level that the true mean milk production is at least 120K