Question
A Sampling Distribution for Average Salary of NFL Players Use StatKey or other technology to generate a sampling distribution of sample means using a sample
A Sampling Distribution for Average Salary of NFL Players Use StatKey or other technology to generate a sampling distribution of sample means using a sample of size n=5 from the YearlySalary values in the dataset NFLContracts2019, which gives the total and yearly money values from the contracts of all NFL players in 2019. Data is given in millions of dollars, and all answers should be given in millions of dollars.
a) What are the smallest and largest YearlySalary values in the population? Round your answers to three decimal places. Smallest value = ____ million dollars Largest value = _______ million dollars
b) What are the smallest and largest sample means in the sampling distribution? Round your answers to three decimal places. Smallest mean = _____ million dollars Largest mean =_______ million dollars
c) What is the standard error (that is, the standard deviation of the sample means) for the sampling distribution for samples of size n=5? Round your answer to two decimal places. Standard error =______million dollars (d) Generate a new sampling distribution with samples of size n=50. What is the standard error for this sampling distribution? Round your answer to three decimal places. Standard error = ______ statement million dollars
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