2eachers' Salaries The average annual salary for all U.S. teachers is \( \$ 47,750 \). Assume that the distribution is normal and the standard deviation is \( \$ 5680 \). Find the probability that a randomly selected teacher earns a. Between \( \$ 35,000 \) and \( \$ 45,000 \) a year b. More than \( \$ 40,000 \) a year c. If you were applying for a teaching position and were offered \( \$ 31,000 \) a year, how would you feel (based on this information)?
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To find the probability for a normally distributed variable, we need to convert the salaries into z-scores using the formula \( z = \frac{(X - \mu)}{\sigma} \), where \( \mu \) is the mean and \( \sigma \) is the standard deviation. a. For \( \$ 35,000 \): \( z = \frac{(35,000 - 47,750)}{5,680} \approx -2.25 \) For \( \$ 45,000 \): \( z = \frac{(45,000 - 47,750)}{5,680} \approx -0.49 \) Using a z-table or calculator, we find the probabilities corresponding to these z-scores. The probability of earning between \( \$ 35,000 \) and \( \$ 45,000 \) is approximately \( 0.5 - 0.0614 = 0.4386 \) or \( 43.86\% \). b. For \( \$ 40,000 \): \( z = \frac{(40,000 - 47,750)}{5,680} \approx -1.37 \) The probability of earning more than \( \$ 40,000 \) is roughly \( 1 - P(z < -1.37) \approx 1 - 0.0853 = 0.9147 \) or \( 91.47\% \). c. If you were offered \( \$ 31,000 \): This salary is below the average and is quite far from the mean, falling more than two standard deviations below the average (as calculated earlier). Feeling undervalued and concerned about compensation equity among peers is natural. An offer this low might prompt a discussion about expectations and compensation standards in local teaching salaries. But remember, your worth is much more than just a number on a paycheck!