Case study:
An article in The Wall Street Journal (July 11, 2008) outlined a number of reason as to why the 16 teams in Major League Baseball's National (NL) are inferior to the 14 teams in the American League (AL). One reason for the imbalance pointed to the disparity in opening-day payrolls for each team is shown in the accompanying table; the entire data set, labeled MLB_Salaries.
Data for Case Study:
|
American League
|
Payroll
|
National League
|
Payroll
|
|
New York Yankees
|
$206,333,389
|
Chicago Cubs
|
$146,609,000
|
|
Boston Red Sox
|
162,447,333
|
Philadelphia Phillies
|
141,928,379
|
In a report, use the sample information to:
1. Discuss the mean and the median of AL and NL opening day salaries and comment on skewness.
2. Compare the range and the standard deviation of AL and NL opening day salaries.
3. Use these summary measures to comment on the findings in The Wall Street Journal.
Attachment:- MLB_Salaries.xlsx