You’ve been asked to compare the changing nature of baseball salaries. An Excel workbook has been…

You’ve been asked to compare the changing nature of baseball salaries. An Excel workbook has been prepared for you that contains salaries from the years 1985, 2002, and 2007. Examine these salaries and prepare a statistical report. a. Open the Salary Comparison workbook from the Chapter04 folder and save it as Salary Comparison Statistics. b. Create a histogram of the salary data broken down by year. Have the histogram display salaries in $1,000,000 intervals up to $25,000,000 and have the bars of the histogram display the percentages, not the frequencies, for each bar. Display the histogram

View complete question »You’ve been asked to compare the changing nature of baseball salaries. An Excel workbook has been prepared for you that contains salaries from the years 1985, 2002, and 2007. Examine these salaries and prepare a statistical report. a. Open the Salary Comparison workbook from the Chapter04 folder and save it as Salary Comparison Statistics. b. Create a histogram of the salary data broken down by year. Have the histogram display salaries in $1,000,000 intervals up to $25,000,000 and have the bars of the histogram display the percentages, not the frequencies, for each bar. Display the histogram bars side by side rather than stacked. Does the distribution of the salaries appear the same in the three years? c. Calculate the count, mean, median, percentiles, skewness, and kurtosis for the three years. How does the typical salary compare within the three years? What do players in the upper 10% of each year make? d. Has the distribution of the salaries become more skewed or less skewed or remained the same over the years? Answer this question by examining the skewness and kurtosis statistics. You’ve learned that the 2007 data are just for starters. How could this affect your conclusion? e. Save your changes to the workbook and then write a report summarizing your calculations.

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