In 2014, the median salary nationwide for a high school teacher was $56,310 per year. The median annual wage for all workers was $35,540. SOURCE: United States. Department of Labor. "High School Teachers." Occupational Outlook Handbook. 17 Dec. 2015. Web. 7 March 2016. Suppose a worker makes $28,000 in wages per year. Find the percent increase in salary the worker can expect if he/she trains to be a teacher and can expect to earn a salary of $54,000
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
In 2014, the median salary nationwide for a high school teacher was $56,310 per year. The median annual wage for all workers was $35,540.
SOURCE: United States. Department of Labor. "High School Teachers." Occupational Outlook Handbook. 17 Dec. 2015. Web. 7 March 2016.
Suppose a worker makes $28,000 in wages per year. Find the percent increase in salary the worker can expect if he/she trains to be a teacher and can expect to earn a salary of $54,000
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