9. Incorrect. The answer is true, not false.

 

First of all, you have to calculate the expected value of the sample. It is simply the average of the prices. Let P the copper price. The expected value μ is:

 

 

Second, you have to calculate the standard deviation. The formula of the variance of the sample prices is:

 

where “n” is the number of observations. Applying this formula to the information in the table:

 

The standard deviation is: (σ2)0.5 = 17.49.

 

The standardized prices can be obtained by applying the following formula to each sample price in the table:

 

 

The result is: