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 7.117

117. Assume that greed attacked the Master of the Mint and he went for the big debasement from 128 grams per coin to 127.3 grams per coin.

  1. Find .
  2. What is the probability that the Master of the Mint would get away with this big 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?

7.1.117

(a) 0.0002 (b) 0.0002, 0.9998 (c) The value found in the original case study in the text favors the Master of the Mint.