Chapter 2.1, Problem 15E

(a)

To determine

To find: the percentile corresponding to L’s salary.

Answer to Problem 15E

75.86% player's salary on the World Champion 2008 Philadelphia Phillies baseball team is less than L's salary.

Explanation of Solution

Given:

  

Calculation:

Since 22 salaries were less than L's salary, his salary is at the percentile is obtained below.

  $\begin{array}{l}\text{percentile}=\frac{22}{29}\\ =0.7586\\ =75.86\%\end{array}$

This means 75.86% player's salary on the World Champion 2008 Philadelphia Phillies baseball team less than L's salary.

Conclusion:

Therefore, 75.86% player's salary on the World Champion 2008 Philadelphia Phillies baseball team is less than L's salary.

(b)

To determine

To find: the z- score corresponding to L’s salary.

Answer to Problem 15E

L's salary was 0.79 standard deviations above the mean salary of $\$3,388,617$ .

Explanation of Solution

Calculation:

The standardized score for L's salary is obtained below.

  $\begin{array}{l}z=\frac{x-\mu }{\sigma }\\ =\frac{6,350,000-3,388,617}{3,767,484}\\ =0.79\end{array}$

L's salary was 0.79 standard deviations above the mean salary of $\$3,388,617$ .

Conclusion:

Therefore, L's salary was 0.79 standard deviations above the mean salary of $\$3,388,617$ .