Exhibit 6-2.Gold miners in Alaska have found,on average,12 ounces of gold per 1000 tons of dirt excavated with a standard deviation of 3 ounces.Assume the amount of gold found per 1000 tons of dirt is normally distributed. Refer to Exhibit 6-2.What is the probability the miners find more than 16 ounces of gold in the next 1000 tons of dirt excavated?
A)0.0918
B)0.4082
C)0.5918
D)0.9082

Question

Quizplus · Accepted Answer

The probability of finding more than 16 ounces of gold in the next 1000 tons of dirt excavated is 0.0918. This is because the mean amount of gold found per 1000 tons of dirt is 12 ounces, and the standard deviation is 3 ounces. The z-score for 16 ounces is (16 - 12) / 3 = 1.33. The probability of finding a z-score greater than 1.33 is 0.0918.