One year, professional sports players salaries averaged $1.9 million with a standard deviation of $0.7 million.Suppose a sample of 100 major league players was taken. Find the approximate probability that the averagesalary of the 100 players exceeded $1.1 million.

Question

Quizplus · Accepted Answer

Given the large sample size (n=100) and the central limit theorem, the sampling distribution of the mean will be approximately normally distributed. The probability that the average salary exceeds $1.1 million is very high, almost certain, because $1.1 million is significantly below the population mean of $1.9 million.

One Year, Professional Sports Players Salaries Averaged $1