Question
In: Statistics and Probability
According to the US Bureau of Labor Statistics, in the United States, the employment rate measures...
According to the US Bureau of Labor Statistics, in the United States, the employment rate measures the number of people who have a job as a percentage of the working age population. In January 2020 the rate was 61.2%.
A) Recognizing that this is a binomial situation, give the meaning S and F in this context. That is, define what you will classify as a "success" S and what you will classify as a "failure" F as it refers to being employed.
B) Next, give the values of n, p, and q.
C) Construct the complete binomial probability distribution for this situation in a table.
D) Using your table, find the probability that exactly six working aged persons are employed.
E) Find the probability that at least 5 working aged persons are employed.
F) Find the probability that fewer than 6 working aged persons are employed.
G) Find the mean and standard deviation of this binomial probability distribution.
H) By writing a sentence, interpret the meaning of the mean value found in (G) as tied to the context of the percentage of working aged persons in the US.
I) Is it unusual to have 8 working aged persons in a group of 10 who are employed? Briefly explain your answer.
Solutions
orchestra answered 1 year agoRelated Solutions
According to the US Bureau of Labor Statistics, in the United States, the employment rate measures...
According to the US Bureau of Labor Statistics, in the United
States, the employment rate measures the number of people who have
a job as a percentage of the working age population. In January
2020 the rate was 61.2%.
A) Recognizing that this is a binomial situation, give the
meaning S and F in this context. That is, define what you will
classify as a "success" S and what you will classify as a "failure"
F as it refers to...
According to the US Bureau of Labor Statistics, in the United States, the employment rate measures...
According to the US Bureau of Labor Statistics, in the United
States, the employment rate measures the number of people who have
a job as a percentage of the working age population. In January
2020 the rate was 61.2%.
A) Recognizing that this is a binomial situation, give the
meaning S and F in this context. That is, define what you will
classify as a "success" S and what you will classify as a "failure"
F as it refers to...
The United States Bureau of Labor Statistics (BLS) conducts the Quarterly Census of Employment and Wages...
The United States Bureau of Labor Statistics (BLS) conducts the
Quarterly Census of Employment and Wages (QCEW) and reports a
variety of information on each county in America. In the third
quarter of 2016, the QCEW reported the total taxable earnings, in
millions, of all wage earners in all 3222 counties in America.
Suppose that James is an economist who collects a simple random
sample of the total taxable earnings of workers in 52 American
counties during the third quarter...
The Bureau of Labor and Statistics (BLS) calculates the unemployment rate for the United States. For...
The Bureau of Labor and Statistics (BLS) calculates the
unemployment rate for the United States. For June of 2020, they
published numbers that were close to the following:
Civilian noninstitutional Population = 260 million
Labor Force = 160 million
Employed = 142 million
Unemployed = 18 million
Retired = 60 million
A- Calculate the unemployment rate and the participation rate for
June of 2020 in the US using two decimal places (3 points
each).
B- The United States have gone...
According to the US Census Bureau, the Gini Coefficient in the United States was 0.397 in...
According to the US Census Bureau, the Gini Coefficient in the
United States was 0.397 in 1967, and 0.480 in 2014. The Gini
coefficient is a measure of inequality that ranges from 0 to 1,
where higher numbers indicate greater inequality. According to the
World Bank, countries with Gini coefficients between 0.5 and 0.7
are characterized as highly unequal. Using the
idea that Incentives Matter, analyze BOTH the pros of some
income inequality and the cons of excessive income inequality....
According to the document Consumer Expenditures, a publication of the U.S. Bureau of Labor Statistics, the...
According to the document Consumer Expenditures, a publication
of the U.S. Bureau of Labor Statistics, the average consumer unit
spent $1749 on apparel and services in 2002. That same year, 25
consumer units in the Northeast had the following normally
distributed annual expenditures, in dollars, on apparel and
services. At the 5% significance level, do the data provide
sufficient evidence to conclude that the 2002 mean annual
expenditure on apparel and services for consumer units in the
Northeast differed from...
According to the bureau of labor statistics, it takes an average of 22 weeks for someone...
According to the bureau of labor statistics, it takes an average
of 22 weeks for someone over 55 to find a new job, compared with 16
weeks for younger workers. Assume that the probability
distributions are normal and that the standard deviation is 2 weeks
for both distributions.
A) What is the probability that it takes a worker over the age
of 55 more than 19 weeks to find a job?
B) What is the probability that it takes a...
According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was...
According to the Bureau of Labor Statistics, the mean salary for
registered nurses in Kentucky was $55,718. The distribution of
salaries is assumed to be normally distributed with a standard
deviation of $5,769. Someone would like to determine if registered
nurses in Ohio have a greater average pay. To investigate this
claim, a sample of 162 registered nurses is selected from the Ohio
Board of Nursing, and each is asked their annual salary. The mean
salary for this sample of...
According to the Bureau of Labor Statistics, the annual wage for a federal employee in 2017...
According to the Bureau of Labor Statistics, the annual wage for
a federal employee in 2017 was $76,250. Assume the population
standard deviation is $28,025. A random sample of 34 federal
employees is selected.
What is the probability that the sample mean will be less than
$70,000?
What is the probability that the sample mean will be more than
$74,000?
What is the probability that the sample mean will be between
$76,000 and $81,000.
According to the Bureau of Labor Statistics (as of May 2016), the mean annual wage for...
According to the Bureau of Labor Statistics (as of May 2016),
the mean annual wage for criminal justice and law enforcement
professors is $67,040. The median annual wage is $59,590. Explain
how each would be calculated and the advantages to using each over
the other to characterize the typical annual salary. As a
professor, which should I view as more accurate/appropriate?
Explain your position.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- JAVASCRIPT: Please create an array of student names and another array of student grades. - Create...
- Topic - Construction: Structural, loads, tension 1.) Explain why pure tension members are the most efficient...
- Procter and Gamble (PG) paid an annual dividend of $ 1.62$1.62 in 2009. You expect PG...
- locate a recent case of online child pornography. Write a summary of the incident and describe...
- #Python 5. Write function called evaluate() that evaluates the following Python expressions or assignments as specified:...
- Suggest journal, research paper link reference. i need this as reference for writing a research with...
- Cryptography is used heavily in internet communications. True or false? Explain
ADVERTISEMENT