Answer
a) 10,300,000 dollars
b) 14,000,000 dollars
c) 5,552,027 dollars
d) 30,825,003,810,000 square dollars
e) z=.76
f) Ratio
g) Discrete
h) No
Work Step by Step
a) We find that the mean is:
$1000\times \frac{14,500+14,500+14,000+5,000+3,500}{5}=10,300,000$
b) The median is 14,000, which in dollars is: $14,000\times 1,000 = 14,000,000$
c) Using Microsoft Excel and converting the value from 1000's of dollars to dollars, we find that the standard deviation is 5,552,027 dollars.
d) We square the value that we found in part c) to obtain: 30,825,003,810,000 square dollars
e) $z=\frac{14,500,000-10,300,000}{5,552,027}=.76$
f) This set of data can be described by a ratio level of measurement.
g) The salaries are discrete data.
h) No, they are not. The starters are generally the best 5 players, so these salaries are likely higher than the salaries of the rest of the team.
