3. Use "MLB_Salaries" data in Chapter3.xlsx to answer the following questions. For questions that require Excel,...

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3. Use "MLB_Salaries" data in Chapter3.xlsx to answer thefollowing questions. For questions that require Excel, include theappropriate output (copy + paste) along with an explanation. Datadescription: An article in The Wall Street Journal (July 11, 2008)outlined a number of reasons as to why the 16 teams in Major LeagueBaseball’s National League (NL) are inferior to the 14 teams in theAmerican League (AL). One reason for the imbalance pointed to thedisparity in opening-day payrolls: the average AL payroll isgreater than the NL average. A portion of the data showingopening-day payroll (in $) for each team is shown in theaccompanying table. Questions: a. Discuss the mean and the medianof AL and NL opening-day salaries and comment on skewness. b.Compare the range and the standard deviation of AL and NLopening-day salaries. c. Use these summary measures to comment onthe findings in The Wall Street Journal.
American League Payroll National League Payroll
New York Yankees 206333389 Chicago Cubs 146609000
Boston Red Sox 162447333 Philadelphia Phillies 141928379
Detroit Tigers 122864928 New York Mets 134422942
Chicago White Sox 105530000 San Francisco Giants 98641333
Los Angeles Angels 104963866 Los Angeles Dodgers 95358016
Minnesota Twins 97559166 St. Louis Cardinals 93540751
Seattle Mariners 86510000 Houston Astros 92355500
Baltimore Orioles 81612500 Atlanta Braves 84423666
Tampa Bay Rays 71923471 Colorado Rockies 84227000
Kansas City Royals 71405210 Milwaukee Brewers 81108278
Toronto Blue Jays 62234000 Cincinnati Reds 71761542
Cleveland Indians 61203966 Washington Nationals 61400000
Texas Rangers 55250544 Arizona Diamondbacks 60718166
Oakland Athletics 51654900 Florida Marlins 57034719
San Diego Padres 37799300
Pittsburgh Pirates 34943000

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a Mean Sum of all the data Total no of observationsMedian The median of a set of data is themiddlemost number in the set The median is also the number that ishalfway into the set To find the median the data should first bearranged in order from least to greatestStandard deviation X2N 05 mean n total no of observation x each dataRange Maximum value Minimum ValueNow from these formulas I have found everythingAmerican LeaguePayrollNational LeaguePayrollNew York Yankees206333389Chicago Cubs146609000Boston Red See Answer

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American League	Payroll	National League	Payroll
New York Yankees	206333389	Chicago Cubs	146609000
Boston Red Sox	162447333	Philadelphia Phillies	141928379
Detroit Tigers	122864928	New York Mets	134422942
Chicago White Sox	105530000	San Francisco Giants	98641333
Los Angeles Angels	104963866	Los Angeles Dodgers	95358016
Minnesota Twins	97559166	St. Louis Cardinals	93540751
Seattle Mariners	86510000	Houston Astros	92355500
Baltimore Orioles	81612500	Atlanta Braves	84423666
Tampa Bay Rays	71923471	Colorado Rockies	84227000
Kansas City Royals	71405210	Milwaukee Brewers	81108278
Toronto Blue Jays	62234000	Cincinnati Reds	71761542
Cleveland Indians	61203966	Washington Nationals	61400000
Texas Rangers	55250544	Arizona Diamondbacks	60718166
Oakland Athletics	51654900	Florida Marlins	57034719
		San Diego Padres	37799300
		Pittsburgh Pirates	34943000