Answer
a) $\$10,300,000$
b) $\$14,000,000$
c) $\$5,552,027$
d) $30,825,003,810,000$ dollars squared
e) $z=0.76$
f) Ratio
g) Discrete
h) No
Work Step by Step
a) We find that the mean is:
$1000\cdot\frac{14,500+14,500+14,000+5,000+3,500}{5}=10,300,000\$.$
b) The median is $14,000$, which conveerted to dollars is: $14,000\cdot1,000=$14,000,000\$.
c) Using Microsoft Excel and converting the value from 1000's of dollars to dollars, we get a standard deviation of $5,552,027$.
d) We square the value that we found in part c) to get $30,825,003,810,000$ dollars squared.
e) $z=\frac{14,500,000−10,300,000}{5,552,027}=0.76$
f) This set of data can be described by a ratio level of measurement.
g) The salaries are discrete data.
h) The starters are generally the best 5 players, so their salaries are likely to be higher than the salaries of the rest of the team. Hence they are not.
