Provide an Appropriate Response $\$ 1.6$ Million with a Standard Deviation Of

question 14

Multiple Choice

Provide an appropriate response.
-One year, professional sports players salaries averaged $\$ 1.6$ million with a standard deviation of $\$ 0.7$ million. Suppose a sample of 100 major league players was taken. Find the approximate probability that the average salary of the 100 players exceeded $\$ 1.1$ million.

• A) approximately 1
• B) approximately 0
• C) \(0.2357\)
• D) \(0.7357\)

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Definitions:

Initial Cash Flow

Refers to the initial amount of money spent or received at the start of a project or investment.

Building Cost

The total expenses incurred in constructing a building, including materials, labor, and any other costs.

Market Value

The present listed price for purchasing or selling an asset or company on the public market.