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


If the mineral economist has 'n' different prices, then the average price of the minerals considered in the dataset is equal to:



This is simply the mean of the random prices. The average price converge to μ. This is a consequence of the strong law of large number:



This is an application of the Chevyshev's inequality. ε is a very small number which represent the discrepancy between the calculated average price and its theoretical value.