We have accesss to data regarding the salaries of all professsional baseball pla

Question

We have accesss to data regarding the salaries of all professsional baseball players in 2012. That is, if we consider all professional baseball players in 2012 our subjects of interest, then we have information on every individual in the population. In this problem, we are going to examine how varying the sample size impacts the sampling distribution of the sample mean. We will be using an applet called StatKey to complete this problem. Start by opening a web browser on your computer and going to the following website: In the top left corner of the page, under StatKey, click on the arrow next to the words Statistics Grad Schools and select Baseball Players (2012 Salary in Millions). The top graph on the right hand side displays the distribution of the population as well as some numerical summaries describing the population. Use this graph and the numerical summaries to answer the following questions Report the mean (in millions of dollars) for all 855 salaries of 2012 professional baseball players to 3 decimal places. Report the standard deviation (in millions of dollars) for all 855 salaries of 2012 professional baseball players to 3 decimal places.

Explanation / Answer

i) per the graph and numerical summary, the mean is 3.439.

ii) Standard deviation-4.698.

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