The U. S. Department of Agriculture (USDA) uses sample surveys to obtain important economic estimates. One USDA pilot study estimated the price received by farmers for corn sold in January from a sample of 20 farms. The mean price was reported as $3.64 per bushel with a standard deviation of $0.0835 per bushel. Give a 95% confidence interval for the mean price received by farmers for corn sold in January.

{$3.60; $3.68}

Step-by-step explanation:

The confidence interval for a sample of size 'n', with mean price 'X' and standard deviation 's' is determined by:

The z-score for a 95% confidence interval is 1.96.

Applying the given data, the lower and upper bounds of the confidence interval are:

The confidence interval for the mean price received by farmers for corn sold in January is:

CI : {$3.60; $3.68}

pay attention in your classes and concentrate the best thing you can do to raise your test scores is to pay attention when you're supposed to be learning the material: in class!

take good notes.

do your homework.

use mnemonics and other tricks.

do practice tests.

note: the best i know.