Let μ be the mean annual salary of Major League Baseball players for 2009. Assume that the standard deviation of the salaries of these players is $2,845,000. What is the probability that the 2009 mean...

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Let μ be the mean annual salary of Major League Baseball players for 2009. Assume that the standard deviation of the salaries of these players is $2,845,000. What is the probability that the 2009 mean salary of a random sample of 26 baseball players was within $500,000 of the population mean, μ

? Assume that n/N ≤ .05.




Answered Same DayDec 25, 2021

Answer To: Let μ be the mean annual salary of Major League Baseball players for 2009. Assume that the standard...

Robert answered on Dec 25 2021
122 Votes
P (|X − µ| < 500000)
Normal Distribution, µ = µ, σ = 2845000, n = 26
P (|X − µ| < 500000) = P
(
−(500000) )
= P
(
−(500000)− (µ) )
we convert this to standard normal using z = x− µx
σx
= x− µ
σ/
√
n
z1 =
−500000
2845000/
√
26
≈ −0.896137 ≈ −0.90
z2...
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