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Sampling Distribution

NBA salaries averaged 2.1 million with a standard deviation of 1.2 million in 2000. Suppose a sample of 36 NBA players was taken. A. What is the sampling distribution of the sample mean? aa) Approximately N(2.1, 1.2) (unit in millions) bb)Approximately N(1.2, 2.1) cc) Approximately N(2.1, .2) dd) Approximately N(1.2, .35) B. What is the approximate probability that the average salary of the 36 players exceeded $2.1 million? aa) .5 bb)36.0 cc) 0.00 dd) 1.80 Please show or explain how you derived at your solution and add any comments that you think will be helpful.

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Solution. The answer for the first question is c) Appr. N(2.1,0.2) which means the mean is 2.1 million and the standard deviation is 0.2 ...

Solution Summary

NBA salaries averaged 2.1 million with a standard deviation of 1.2 million in 2000. Suppose a sample of 36 NBA players was taken. A. What is the sampling distribution of the sample mean? aa) Approximately N(2.1, 1.2) (unit in millions) bb)Approximately N(1.2, 2.1) cc) Approximately N(2.1, .2) dd) Approximately N(1.2, .35) B. What is the approximate probability that the average salary of the 36 players exceeded $2.1 million? aa) .5 bb)36.0 cc) 0.00 dd) 1.80 Please show or explain how you derived at your solution and add any comments that you think will be helpful.

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