SOLUTION: The mean starting salary for nurses is $67,694 nationally ("Staff nurse -," 2013).
The standard deviation is approximately $10,333. Assume that the starting salary
is normally di
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Question 1031500: The mean starting salary for nurses is $67,694 nationally ("Staff nurse -," 2013).
The standard deviation is approximately $10,333. Assume that the starting salary
is normally distributed.
e.) If a nurse made less than $50,000, would you think the nurse was under paid?
Why or why not?
f.) What salary do 30% of all nurses make more than?
(if you can provide explanation too it would be great)
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
: The mean starting salary for nurses is $67,694 nationally ("Staff nurse -," 2013).
The standard deviation is approximately $10,333. Assume that the starting salary
is normally distributed.
e.) If a nurse made less than $50,000, would you think the nurse was under paid?
Why or why not?
------
z(50,000) = (50000-67694)/10333 = -1.7124
That means a salary of 50000 is 1.7124 standard deviations below
the average that nurses are getting.
-------------------------------
P(x < 50000) = P(z < -1.7124) = normalcdf(-100,-1.7124) = 0.043
That means about 4% of nurses are getting a salary less than
$50,000.00
Opinion:: I think the nurse receiving 50,000 was underpaid.
-----------------------------
f.) What salary do 30% of all nurses make more than?
Find the z-value with a left tail of 70%
z = invNorm(0.70) = 0.5244
The cutoff point on the z-scale is 0.5244 standard deviations above the mean.
x = 0.5244*10333 + 67694 = $73112.63
This is the lowest salary the top 30% of nurses receive.
-------------------------------
Cheers,
Stan H.
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