There were 855 major league baseball players in 2012 and their mean salary was m = 3.44 million dollars with standard deviation s = 4.70 million dolla

Albarellak 2020-12-17 Answered
There were 855 major league baseball players in 2012 and their mean salary was m=3.44 million dollars with standard deviation s=4.70 million dollars.If we take random samples of size n=30 players and calculate the mean salary, in millions of dollars, of each sample, describe the shape, center, and standard error of the distribution of sample means.
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irwchh
Answered 2020-12-18 Author has 102 answers

Step 1
If a sample is drawn =, then the sample will follow normal distribution because all the sampling distributions approximately follows the normal distribution with mean, m and standard deviation, n.
Therefore, the shape of distribution is approximately symmetric.
Step 2
The mean is same, i.e. m=3.44 million dollars and the standard error is,
SE=8n
4.730=0.8581 milion dollars

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