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The U.S. Department of Agriculture (USDA) conducted a survey to estimate the average price of wheat in July and in September of the same year. Independent random samples of wheat producers were selected for each of the two months. Here are summary statistics on the reported price of wheat from the selected producers, in dollars per bushel:

Construct and interpret a 99% confidence interval for the difference in the mean wheat price in July and in September.

Short Answer

Expert verified

No, enough evidence are not provided by the data set that polyester decays more in 16weeks in comparison of 2weeks.

Step by step solution

01

Given information

02

Explanation

The null and alternative hypothesis is

H0:1=2

Ha:1<2

The output came using Ti-83plus calculator is

Assume, the significance level to be 0.05%

The null hypothesis is not rejected

At 5%significance level, there are insufficient evidence to conclude that polyester decays more in 16weeks in comparison of2weeks.

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Most popular questions from this chapter

The Candy Shoppe assembles gift boxes that contain 8 chocolate truffles and two handmade caramel nougats. The truffles have a mean weight of 2 ounces with a standard deviation of 0.5 ounce, and the nougats have a mean weight of 4 ounces with a standard deviation of 1 ounce. The empty boxes weigh 3 ounces with a standard deviation of 0.2 ounce.

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