SOLUTION: Major league baseball salaries averaged $3.26 million with a standard deviation of $1.2 million in a certain year in the past. Suppose a sample of 100 major league players was take

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Question 1156525: Major league baseball salaries averaged $3.26 million with a standard deviation of $1.2 million in a certain year in the past. Suppose a sample of 100 major league players was taken. Find the approximate probability that the mean salary of the 100 players was no more than $3.0 million.
Select one:
A. Approximately 1
B. 0.0151
C. Approximately 0
D. 0.9849
Answer by VFBundy(438) About Me  (Show Source):
You can put this solution on YOUR website!
%283.0+-+3.26%29%2F%281.2%2Fsqrt%28100%29%29 = %28-0.26%29%2F0.12 = -2.17

Look up -2.17 on a z-table. The result is 0.0150. So, the answer is B.