Refer to the Baseball 2021 data, which report information on the 30 Major League Baseball teams for

Question:

Refer to the Baseball 2021 data, which report information on the 30 Major League Baseball teams for the 2021 season. Refer to the team salary variable. 

a. Prepare a report on the team salaries. Be sure to answer the following questions in your report.
1. Around what values do the data tend to cluster? Specifically what is the mean team salary? What is the median team salary? Is one measure more representative of the typical team salary than the others?
2. What is the range of the team salaries? What is the standard deviation? About 95% of the salaries are between what two values?
b. In 2000 the average player salary was $1.99 million. In 2021, the average player salary is $4.17 million. What was the rate of change over the period?


TeamLeagueYear OpenedTeam SalaryAttendanceWinsERABAHRNet worth ($billion) 
Arizona DiamondbacksNational199889.081,043,010525.110.236144$1.320
Atlanta BravesNational2017134.462,300,247883.880.244239$1.875
Baltimore OriolesAmerican199245.70793,229525.840.239195$1.430
Boston Red SoxAmerican1912180.261,725,323924.260.261219$3.465
Chicago CubsNational1914149.671,978,934714.870.237210$3.360
Chicago White SoxAmerican1991125.991,596,385933.730.256190$1.685
Cincinnati RedsNational2003118.751,505,024834.400.249222$1.085
Cleveland IndiansAmerican199446.831,114,368804.340.238203$1.160
Colorado RockiesNational1995103.991,938,645744.820.249182$1.300
Detroit TigersAmerican200080.401,102,623774.320.242179$1.260
Houston AstrosAmerican2000171.022,068,509953.760.267221$1.870
Kansas City RoyalsAmerican197387.781,159,613744.650.249163$1.060
Los Angeles AngelsAmerican1966177.351,512,033774.690.245190$2.025
Los Angeles DodgersNational1962235.412,804,6931063.010.244237$3.570
Miami MarlinsNational201249.43642,617673.960.233158$0.990
Milwaukee BrewersNational200187.571,824,282953.500.233194$1.220
Minnesota TwinsAmerican2010121.001,310,199734.830.241228$1.325
New York MetsNational2009167.421,484,665773.900.238176$2.450
New York YankeesAmerican2009191.211,959,854923.740.237222$5.250
Oakland AthleticsAmerican196674.62701,430864.020.238199$1.125
Philadelphia PhilliesNational2004174.011,515,890824.390.24198$2.050
Pittsburgh PiratesNational200135.91859,498615.080.236124$1.285
San Diego PadresNational2004171.692,191,950794.100.242180$1.500
San Francisco GiantsAmerican2000127.891,679,4841073.240.249241$3.175
Seattle MarinersNational199964.551,215,985904.300.226199$1.630
St. Louis CardinalsNational2006135.052,102,530903.980.244198$2.245
Tampa Bay RaysAmerican199060.39761,0721003.670.242222$1.055
Texas RangersAmerican199484.872,110,258604.790.232167$1.785
Toronto Blue JaysAmerican1989137.13809,557913.910.266262$1.675
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question

Statistical Techniques In Business And Economics

ISBN: 9781265779696

19th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

Question Posted: