  We present the results of high-statistics calculations of correlation
functions generated with single-baryon interpolating operators on an ensemble
of dynamical anisotropic gauge-field configurations generated by the Hadron
Spectrum Collaboration using a tadpole-improved clover fermion action and
Symanzik-improved gauge action. A total of 292,500 sets of measurements are
made using 1194 gauge configurations of size 20^3 x 128 with an anisotropy
parameter \xi= b_s/b_t = 3.5, a spatial lattice spacing of b_s=0.1227\pm 0.0008
fm, and pion mass of m_\pi ~ 390 MeV. Ground state baryon masses are extracted
with fully quantified uncertainties that are at or below the ~0.2%-level in
lattice units. The lowest-lying negative-parity states are also extracted
albeit with a somewhat lower level of precision. In the case of the nucleon,
this negative-parity state is above the N\pi threshold and, therefore, the
isospin-1/2 \pi N s-wave scattering phase-shift can be extracted using
Luescher's method. The disconnected contributions to this process are included
indirectly in the gauge-field configurations and do not require additional
calculations. The signal-to-noise ratio in the various correlation functions is
explored and is found to degrade exponentially faster than naive expectations
on many time-slices. This is due to backward propagating states arising from
the anti-periodic boundary conditions imposed on the quark-propagators in the
time-direction. We explore how best to distribute computational resources
between configuration generation and propagator measurements in order to
optimize the extraction of single baryon observables.
