Gold Miners in Alaska Have Found, on Average, 12 Ounces

question 28

Multiple Choice

Gold miners in Alaska have found, on average, 12 ounces of gold per 1,000 tons of dirt excavated with a standard deviation of 3 ounces. Assume the amount of gold found per 1,000 tons of dirt is normally distributed. If the miners excavated 1,000 tons of dirt, how little gold must they have found such that they find that amount or less only 15% of the time?

• A) −1.04
• B) 1.04
• C) 8.89
• D) 15.12

Understand the concepts and components of the "American system" of economics.

Identify factors contributing to the development of a robust market economy in early 19th century America.

Comprehend the significance of competition in a free market economy.

Recognize the role of technological advancements in the burgeoning American market economy.

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Definitions:

Stapes

The smallest bone in the human body, located in the middle ear, and is involved in transmitting sound vibrations to the inner ear.

Incus

Also known as the anvil, it is one of the three small bones in the middle ear that helps to transmit sound vibrations from the eardrum to the inner ear.

Cochlear Nerve

A nerve responsible for transmitting auditory information from the cochlea of the inner ear to the brain.

Cochlea

A spiral-shaped, fluid-filled inner ear structure responsible for converting sound waves into nerve impulses.