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Major League Baseball Salaries Averaged $1

question 79

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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.


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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.

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An honest intention to act without taking an unfair advantage over another person.

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