Refer to the Baseball 2018 data, which report information on the 30 Major League Baseball teams for the 2018 season. Prepare a report on the team salaries. Be sure to answer the following questions in your report. Around what values do the data tend to cluster? Specifically, what is the mean team salary? What is the median team salary? Is one measure more representative of the typical team salary than the others? What is the range of the team salaries? What is the standard deviation? About 95% of the salaries are between what two values? Team Salary ($ mil) 143.32 130.6 127.63 227.4 194.26 71.84 100.31 142.8 143.97 130.96 163.52 129.94 173.78 199.58 91.82 108.98 115.51 150.19 179.6 80.32 104.3 91.03 101.34 205.67 160.99 163.78 68.81 140.63 150.95 181.38
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
Refer to the Baseball 2018 data, which report information on the 30 Major League Baseball teams for the 2018 season.
- Prepare a report on the team salaries. Be sure to answer the following questions in your report.
- Around what values do the data tend to cluster? Specifically, what is the mean team salary? What is the median team salary? Is one measure more representative of the typical team salary than the others?
- What is the
range of the team salaries? What is the standard deviation? About 95% of the salaries are between what two values?
| Team Salary |
| ($ mil) |
| 143.32 |
| 130.6 |
| 127.63 |
| 227.4 |
| 194.26 |
| 71.84 |
| 100.31 |
| 142.8 |
| 143.97 |
| 130.96 |
| 163.52 |
| 129.94 |
| 173.78 |
| 199.58 |
| 91.82 |
| 108.98 |
| 115.51 |
| 150.19 |
| 179.6 |
| 80.32 |
| 104.3 |
| 91.03 |
| 101.34 |
| 205.67 |
| 160.99 |
| 163.78 |
| 68.81 |
| 140.63 |
| 150.95 |
| 181.38 |
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