Answer:
The large sample size 'n' = 199.6569≅ 200
Step-by-step explanation:
Step(i):-
Given Standard deviation of salary for all baseball players for 2015 is about $5,478,384.55
Standard deviation of of salary for all baseball players for 2015
(S.D ) σ = $5,478,384.55
Given estimate of this average salary for all baseball players for 2015
= $497,000
Given Margin of error of error is = $497,000
Level of significance ∝ = 80%
The critical value Z₀.₂₀ = 1.282
Step(ii):-
Margin of error of error is determined by
[tex]M.E = \frac{Z_{0.20} S.D}{\sqrt{n} }[/tex]
[tex]497,000 = \frac{1.282 X 5,478,384.55}{\sqrt{n} }[/tex]
Cross multiplication , we get
[tex]\sqrt{n} = \frac{1.282 X 5,478,384.55}{497,000 }[/tex]
On calculation , we get
√n = 14.13
Squaring on both sides, we get
n = 199.6569
Conclusion:-
The large sample size 'n' = 199.6569≅ 200
