Refer to the Baseball 2016 data, which report information on the 30 Major League Baseball teams for

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Refer to the Baseball 2016 data, which report information on the 30 Major League Baseball teams for the 2016 season.

a. The mean attendance per team for the season was 2.439 million, with a standard deviation of 0.618 million. Use the normal distribution to estimate the number of teams with attendance of more than 3.5 million. Compare that estimate with the actual number. Comment on the accuracy of your estimate.

b. The mean team salary was $121 million, with a standard deviation of $40.0 million. Use the normal distribution to estimate the number of teams with a team salary of more than $100 million. Compare that estimate with the actual number. Comment on the accuracy of the estimate.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Basic Statistics For Business And Economics

ISBN: 9781260187502

9th Edition

Authors: Douglas A. Lind, William G Marchal, Samuel A. Wathen

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