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Exercises 77 refer to the following setting. In the language of government statistics, you are "in the labor force" if you are available for work and either working or actively seeking work. The unemployment rate is the proportion of the labor force (not of the entire population) that is unemployed. Here are estimates from the Current Population Survey for the civilian population aged 25 years and over in a recent year. The table entries are counts in thousands of people.

Unemployment (1.1) Find the unemployment rate for people with each level of education. Is there an association between unemployment rate and education? Explain your answer.

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Explanation for correct option

The number of persons who are unemployed is equal to the number of individuals who are employed.

the unemployment rate is

It has been found that the unemployment rate varies depending on the highest level of education. As a result, there appears to be a link between unemployment and schooling.

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Most popular questions from this chapter

An insurance company claims that in the entire population of homeowners, the mean annual loss from fire is and the standard deviation of the loss is σ=\(5000.The distribution of losses is strongly right-skewed: many policies have \)0loss, but a few have large losses. The company hopes to sell 1000 of these policies for \(300each.

a. Assuming that the company’s claim is true, what is the probability that the mean loss from fire is greater than \)300for an SRS of 1000 homeowners?

b. If the company wants to be 90% certain that the mean loss from fire in an SRS of 1000 homeowners is less than the amount it charges for the policy, how much should the company charge?

The manufacturer of a certain brand of aluminum foil claims that the amount of foil on each roll follows a Normal distribution with a mean of 250 square feet (ft2 ) and a standard deviation of 2 ft2 . To test this claim, a restaurant randomly selects 10 rolls of this aluminum foil and carefully measures the mean area to bex=249.6ft2.

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