Question: Help answering the following while showing work in excel or PHstat please; Major league baseball salaries averaged $3.41 million with a standard deviation of $1.25
Help answering the following while showing work in excel or PHstat please;
Major league baseball salaries averaged $3.41 million with a standard deviation of $1.25 million in a certain year in the past. Suppose a sample of 100 major league players was taken.
- Calculate the standard error for the sample mean summary.
- What is the probability that the mean salary of the players exceeded $3.5 million?
- What is the probability that the mean salary of the players was less than $2.7 million.
- What is the probability that the mean salary of the players was less than $2.5 million OR greater than $3.6 million?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
