1.10. (-) On July 4, 1995, the New York Times reported that the nation's uni- versities were awarding 25% more Ph.D. degrees than the economy could absorb. The headline concluded that there was a 1 in 4 chance of underemployment. Here "underemployment” means having no job or having a job not requiring the Ph.D. degree. What should the correct statement of the odds have been?

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Author:Erwin Kreyszig
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1.10. (-) On July 4, 1995, the New York Times reported that the nation's uni-
versities were awarding 25% more Ph.D. degrees than the economy could absorb.
The headline concluded that there was a 1 in 4 chance of underemployment. Here
"underemployment" means having no job or having a job not requiring the Ph.D.
degree. What should the correct statement of the odds have been?
Transcribed Image Text:1.10. (-) On July 4, 1995, the New York Times reported that the nation's uni- versities were awarding 25% more Ph.D. degrees than the economy could absorb. The headline concluded that there was a 1 in 4 chance of underemployment. Here "underemployment" means having no job or having a job not requiring the Ph.D. degree. What should the correct statement of the odds have been?
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Step 1

Here, according to the reports, number of person not getting a job or getting a job not requiring phd is 1 out of 4 persons. 

i.e., the system could give job to 3/4th portion of Ph.D.s

 

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