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Major league baseball salaries averaged $1.5 million with a standard deviation of $0.8 million in 1994. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players exceeded $1 million.
Essential Purpose
The fundamental objective or main reason that something exists or is done.
Objective Standard
A legal standard based on what a reasonable person would believe or do under similar circumstances.
Uniform Commercial Code
A standardized collection of laws and regulations for the conduct of business transactions and the sale of goods across the United States.
Good Faith
An honest intention to act without taking an unfair advantage over another person.
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