# What are the mean, median, and mode salaries of a baseball team where the 24 players earn the following annual salaries: 2 players at $14.6 million; 4 at $7.45 million; 4 at 3.93 million; 5 at $450,000; 2 at $390,000 and 7 at $200,000?

##### 1 Answer

Mean,

Median = $450000.

Mode = $200000

#### Explanation:

Start by arranging all the data points in increasing order to obtain :

200000

200000

200000

200000

200000

200000

200000

390000

390000

450000

450000

450000

450000

450000

3930000

3930000

3930000

3930000

7450000

7450000

7450000

7450000

14600000

14600000

Define

Now by definition, the mean or average of these values is given by

The median is defined to be the centre data point or, in this case since the number of data points is an even number, the mean of the 2 centre points, ie

The mode is defined to be the data point which occurs most often, so in this case it is 200000 which occurs 7 times in the sample space.