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Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen
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Solved: Refer to the Baseball 2009 data, which report information on the 30 Major League

Chapter 0, Problem 75

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QUESTION:

Refer to the Baseball 2009 data, which report information on the 30 Major League Baseball teams for the 2009 season. a. The mean attendance per team for the season was 2.448 million, with a standard deviation of 0.698 million. Use the normal distribution to estimate the number of teams with attendance of more than 3.5 million. Compare that estimate with the actual number. Comment on the accuracy of your estimate. b. The mean team salary was $88.51 million, with a standard deviation of $33.90 million. Use the normal distribution to estimate the number of teams with a team salary of more than $50 million. Compare that estimate with the actual number. Comment on the accuracy of the estimate

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QUESTION:

Refer to the Baseball 2009 data, which report information on the 30 Major League Baseball teams for the 2009 season. a. The mean attendance per team for the season was 2.448 million, with a standard deviation of 0.698 million. Use the normal distribution to estimate the number of teams with attendance of more than 3.5 million. Compare that estimate with the actual number. Comment on the accuracy of your estimate. b. The mean team salary was $88.51 million, with a standard deviation of $33.90 million. Use the normal distribution to estimate the number of teams with a team salary of more than $50 million. Compare that estimate with the actual number. Comment on the accuracy of the estimate

ANSWER:

Step 1 of 4

Given:

The number of a major League Baseball team is .

a.

The mean attendance per team for the season is2.448 million.

The standard deviation is0.698 million.

The z value is computed as,

                                                                 

Therefore, the z value is 1.51.

 

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