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?
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?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question

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?
Expert Solution

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
Step by step
Solved in 2 steps
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