Here are the current salaries for Sally's team.
Salary ($) >>Number of Players
300,000 >> 2
500,000 >> 3
Determine the z-score of Sally's current salary of $300,000.
What will the new z-score be if Sally's agent does get her a million-dollar contract?
I need help with the second part. What will the new z-score be if Sally's agent does get her a million-dollar contract?
So I calculated everything you need to know regarding the z-score (and they are correct):
z= (x-u)/ SD
population mean = 1,000,000
so, now I am not sure what x value should go in the z-score formula. I tried 1,000,000, meaning that the z-score would be 0. But, the back of the book says otherwise. Can someone explain to me what value should be x and why? Thanks for your help.
and btw, part a) is -0.87 which I have.. just stuck on part b)
The z-score is found by taking the mean and the value you are using which is 300,000. You subtract the value you have(300,000) by the mean(1,493,750) don't take my word on that value since I used my computer's calculator, then you divide the number you get by your standard deviation(can be calculated on calculator which I can't find). Hope that helps.