Major league baseball salaries averaged $3.26 million with a standard deviation of $1.2 million in a certain year in the past.Suppose a sample of 100 major league players was taken.Find the approximate probability that the mean salary of the 100 players was less than $2.5 million.

Question

Quizplus · Accepted Answer

The mean salary is significantly higher than $2.5 million, and with a large sample size of 100, the sample mean is likely to be close to the population mean due to the Central Limit Theorem. Thus, the probability of the sample mean being less than $2.5 million is extremely low, making the correct answer "Approximately 0".

Major League Baseball Salaries Averaged $3