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...
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millions, of all wage earners in all 3222 counties in America.
Suppose that James is an economist who collects a simple random
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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
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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).
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where higher numbers indicate greater inequality. According to the
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According to the document Consumer Expenditures, a publication
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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
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According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was...
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salaries is assumed to be normally distributed with a standard
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According to the Bureau of Labor Statistics, the annual wage for a federal employee in 2017...
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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),
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the other to characterize the typical annual salary. As a
professor, which should I view as more accurate/appropriate?
Explain your position.
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