The Basic Practice of Statistics 7th Edition

Published by W. H. Freeman
ISBN 10: 1-46414-253-X
ISBN 13: 978-1-46414-253-6

Chapter 2 - Describing Distributions with Numbers - Chapter 2 Exercises - Page 70: 2.44

Answer

The average salary is more than $2.3$ million, and the range of salaries is $5.175$ million. The median salary is $1.5$ million, so the group of salaries is top heavy (a higher mean than median salary). 25% of the players have a salary less than $931,250$, and 25% of the players have a salary more than $3,937,500$.

Work Step by Step

$mean = (575000+575000+690000+700000+715000+900000+925000+950000+1000000+1250000+1400000+1500000+1500000+1500000+1850000+2000000+2500000+3500000+3750000+4000000+4000000+4000000+5000000+5000000+5750000+5750000)/26$ $mean = 61280000/26$ $mean = 2,356,923$ The median, $Q_{1}$, and $Q_{3}$ values were calculated by entering the data points into Microsoft Excel.
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