3. Baseball Players\' Salaries. We have access to data regarding the salaries of

Question

3. Baseball Players' Salaries. We have access to data regarding the salaries of all professional baseball players in 2015. That is, if we consider all professional baseball players in 2015 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: http://lock5stat.com/statkey/sampling.1_quant/sampling_1_quant.html (a) In the top left corner of the page, under StatKey, click on the button with the words Percent uith Internet Access (Countries) and select Baseball Players-2e (2015 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 i. Report the mean (in millions of dollars) for all 868 salaries of 2015 professional baseball players to 3 decimal places ii. Report the standard deviation (in millions of dollars) for all 868 salaries of 2015 pro- fessional baseball players to 3 decimal places iii. The values in parts (a) and (b) above are (Choose all that apply) . Parameters o Statistics o Estimates . Numerical summaries of the sample . Numerical summaries of the population iv. (Free Response) Describe the shape of the distribution of salaries for professional baseball players in 2015. Be sure to comment on skewness and modality.

Explanation / Answer

i) The mean salaries of 868 proffesional basketball palyers is = 4.215 Million Dollars

ii) The standard deviation salaries of 868 proffesional basketball palyers is  = 5.481

iii) The values in part a and b are Parameters and numerical summaries of samples

iv ) The Shape of the distribution of salaries for proffesional baseball players in 2015 can be Exponetial distribution which is Right Skewed and have one peak is therefore Unimodal.

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