1. Compute the mean team player expense and the median team player expense and explain the difference between the values of these statistics.
2. Construct a histogram and a stem-and-leaf display of the teams' operating incomes.
3. Compute the mean team operating income and the median team operating income, and explain the difference between the values of these statistics.
4. The mean team operating income is the operating income each NBA team would receive if the NBA owners divided the total of their operating incomes equally among the 30 NBA teams. (Of course, some of the owners might object to dividing their operating incomes equally among the teams).
a. How would the players use the mean team operating income to justify their position opposing a hard salary cap?
b. Use Table 3.2 to find the number of NBA teams that made money (that is, had a positive oper- ating income) and the number of teams that lost money (had a negative operating income).
c. How would the owners use the results of part (b) and the median team operating income to justify their desire for a hard salary cap?
Compute and inter- pret the range, variance, and standard deviation.
Text Book: Business Statics in Practice By BOWERMAN.