Question

Answer the following questions:

1. How do the mean and the SD compare?

2. What does that tell you?

3. Based on the mean, median and SD, what do you conclude about salaries for major league players in 1994?

Many people believe that most baseball players earn-million dollar salaries. Many are outraged that players make millions, because they believe that the players are often not worth their high salaries. In 1994, George Will, a prominent newspaper columnist, reported that the average salary of a major league ball player was 1.3 million. That is a lot of money, and it's even higher today.

But let's look a little deeper. In 1994, the median salary for those same major leaguers was only 410,000 (50% of players made more than $410,000, but %50 made less.

That's still a lot of money, but no the millions that many Americans think major league players make.

The question is, do the majority of baseball players make the outrageous salaries that the public believes?

Take a look at the list of realistic salaries.

Calculate the mean, median and Standard Deviation.

Baseball players' salaries (millions
1	5.99
2	4.39
3	3.57
4	3.51
5	3.475
6	2.85
7	2.65
8	2.275
9	1.731
10	1.11
11	0.737
12	0.7
13	0.349
14	0.321
15	0.299
16	0.236
17	0.231
18	0.224
19	0.215
20	0.181
21	0.135
22	0.134
23	0.113
24	0.112
25	0.11

Answer 1