Question

A baseball team consists of 2 stars, 13 starters, and 10 substitutes. For tax purposes, the team owner must value the players. The value of each player is defined to be the total value of the salary he will earn until retirement. At the beginning of each season, the players are classified into one of four categories: Category 1 Star (earns $1 million per year) Category 2 Starter (earns $400,000 per year) Category 3 Substitute (earns $100,000 per year) Category 4 Retired (earns no more salary) Given that a player is a star, starter, or substituteDetermine the value of team's players.

Answer 1

Answer:

The total value of the team=$8.2 million

Step-by-step explanation:

Step 1

Determine the total value of the team as follows;

V=(S×s)+(T×t)+(B×b)

where;

V=total value of the team

S=total value per star player

s=number of stars in the team

T=total value per starter

t=number of starters in the team

B=total value per substitute

b=number of substitutes in the team

In our case;

S=1 million per year

s=2 stars

T=400,000

t=13

B=100,000

b=10

replacing;

V=(1,000,000×2)+(400,000×13)+(100,000×10)

V=(2,000,000+5,200,000+1,000,000)

V=8,200,000=8.2 million

The total value of the team=$8.2 million