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Find mean amount bet on major league baseball games

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Reference no: EM131751186

Question: Sports and Leisure It's legal to bet on sports in Nevada, and some research suggests that Americans wage at least $500 billion each year on sporting events. However, only about 1% of this betting is legal. In 2013, New Jersey filed a suit to win the right to allow betting on all the major sports. The purpose was to increase state revenue from this billion-dollar business. According to Baseball Press, the mean amount bet on each Major League baseball game is $8.85 million.44 A random sample of Major League baseball games is obtained, and the amount legally bet in Nevada on each game is given in the following table (in millions of dollars).

1052_Wage.png

a. Is there any evidence to suggest that the mean amount bet on Major League baseball games has increased? Assume the distribution is normal and use a = 0.05.

b. Find bounds on the p value associated with this hypothesis test.

Reference no: EM131751186

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