1. Identify one each of the following data types used in the article above: ordinal, nominal, and ratio.
2. Use MS Excel and information from the Baseball Salaries spreadsheet above to create a single meaningful frequency distribution table with at least 5 separate categories.
3. For each baseball team listed in the workbook, compute the mean, mode, and median salaries. (Excel's mode function is not a good one. It will pick out only one mode even though there might be several in a given team?s data. Use your eyeball to spot all the modes.)
4. What is the probability that each team will pay a player $1,000,000 or more? (For each team, you may identify the numerator (number of successes) and the denominator (number of total possible outcomes) in the probability equation.)
5. If you had to pick one player at random from each of two different teams, what is the probability that they would both be paid $1,000,000 or more? (This is asking for the probability that one player picked from one given team will be paid $1,000,000 or more, AND that one player picked from another given team will also earn that amount.)
This solution analyzes the article and identifies the data types used, provides the frequency distribution table, calculates the mean, mode, and median salaries as well as calculates different probabilities of salaries.