In the Case Study, we interpreted the phrase “much less than” to mean a measurement that is 2 or more standard deviations below the mean. For Exercises 115–118, suppose we interpret the phrase “much less than” to mean a measurement that is 3 or more standard deviations below the mean.

Question 7.116

116. Assume “just a little debasement” from 128 grams per coin to 127.9 grams per coin.

  1. Find .
  2. What is the probability that the Master of the Mint would get away with just this little debasement? That he would get caught?
  3. Compare the probabilities in (b) with those in the Case Study in the text. Which values favor the Master of the Mint?