(Solved): The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 15 people ...

The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 15 people reveals the mean yearly consumption to be 62 gallons with a standard deviation of 22 gallons. Assume the population distribution is normal. (Use $\underline{t\text{ Distribution }}$ Table \& z Distribution Table.) Required: a-1. What is the value of the population mean? Unknown 62 22 a-2. What is the best estimate of this value? c. For a $98\%$ confidence interval, what is the value of $t$ ? (Round your answer to 3 decimal places.) d. What is the margin of error? (Round your answer to 3 decimal places.) e. Develop the $98\%$ confidence interval for the population mean. (Round your answers to 3 decimal places. f. Would it be reasonable to conclude that the population mean is 50 gallons? Yes No It is not possible to tell.