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The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population. Unemployed (Y=0) 0.0320 Employed (Y= 1) Total Non-college grads (X=0) College grads (X= 1) 0.6504 0.3496 0.6184 0.0078 0.0398 0.3418 Total 0.960 0.9998 The expected value of Y, denoted E(Y), is- (Round your response to three decimal places.) The unemployment rate is the fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1- E(Y). Unemployment rate = 1--1- E(Y) = 1-0.960 = 0.0398. E(Y|X= 1) is (Round your response three decimal places.) E(Y|X=0) is. (Round your response three decimal places.) The unemployment rate for college graduates is, and the unemployment rate for non-college graduates is- (Round your responses to three decimal places.) A randomly selected member of this population reports being unemployed. The probability that this worker is a college graduate is, and the probability that this worker is a non-college graduate is. (Round your responses to three decimal places.) Are educational achievement and employment status independent? O A. Since Pr (X=0, Y= 1)# Pr (X= 0), educational achievement and employment status are not independent. O B. Since Pr (X=0, Y= 1) = Pr (X=0), educational achievement and employment status are independent. OC. Since Pr (X-0|Y= 1) = Pr (x=0), educational achievement and employment status are independent. O D. Since Pr (X=0|Y=1)#Pr (X=0), educational achievement and employment status are not independent.

The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population. Unemployed (Y=0) 0.0320 Employed (Y= 1) Total Non-college grads (X=0) College grads (X= 1) 0.6504 0.3496 0.6184 0.0078 0.0398 0.3418 Total 0.960 0.9998 The expected value of Y, denoted E(Y), is- (Round your response to three decimal places.) The unemployment rate is the fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1- E(Y). Unemployment rate = 1--1- E(Y) = 1-0.960 = 0.0398. E(Y|X= 1) is (Round your response three decimal places.) E(Y|X=0) is. (Round your response three decimal places.) The unemployment rate for college graduates is, and the unemployment rate for non-college graduates is- (Round your responses to three decimal places.) A randomly selected member of this population reports being unemployed. The probability that this worker is a college graduate is, and the probability that this worker is a non-college graduate is. (Round your responses to three decimal places.) Are educational achievement and employment status independent? O A. Since Pr (X=0, Y= 1)# Pr (X= 0), educational achievement and employment status are not independent. O B. Since Pr (X=0, Y= 1) = Pr (X=0), educational achievement and employment status are independent. OC. Since Pr (X-0|Y= 1) = Pr (x=0), educational achievement and employment status are independent. O D. Since Pr (X=0|Y=1)#Pr (X=0), educational achievement and employment status are not independent.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population. Unemployed (Y= 0) Employed (Y= 1) Total Non-college grads (X= 0) 0.0320 0.6184 0.6504 0.3418 0.960 College grads (X= 1) 0.0078 0.3496 Total 0.0398 0.9998 The expected value of Y, denoted E(Y), is (Round your response to three decimal places.) The unemployment rate is the fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1- E(Y). Unemployment rate = 1- = 1- E(Y) = 1 - 0.960 = 0.0398. E(Y|X= 1) is (Round your response to three decimal places.) E(Y|X=0) is (Round your response to three decimal places.) The unemployment rate for college graduates is and the unemployment rate for non-college graduates is. (Round your responses to three decimal places.) A randomly selected member of this population reports being unemployed. The probability that this worker is a college graduate is , and the probability that this worker is a non-college graduate is. (Round your responses to three decimal places.) Are educational achievement and employment status independent? A. Since Pr (X=0, Y= 1) # Pr (X=0), educational achievement and employment status are not independent. B. Since Pr (X= 0, Y= 1) = Pr (X=0), educational achievement and employment status are independent. O C. Since Pr (X=0| Y= 1)= Pr (X=0), educational achievement and employment status are independent. D. Since Pr (X= 0 | Y= 1)# Pr (X=0), educational achievement and employment status are not independent.
Transcribed Image Text:The following table gives the joint probability distribution between employment status and college graduation among those either employed or looking for work (unemployed) in the working age U.S. population. Unemployed (Y= 0) Employed (Y= 1) Total Non-college grads (X= 0) 0.0320 0.6184 0.6504 0.3418 0.960 College grads (X= 1) 0.0078 0.3496 Total 0.0398 0.9998 The expected value of Y, denoted E(Y), is (Round your response to three decimal places.) The unemployment rate is the fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1- E(Y). Unemployment rate = 1- = 1- E(Y) = 1 - 0.960 = 0.0398. E(Y|X= 1) is (Round your response to three decimal places.) E(Y|X=0) is (Round your response to three decimal places.) The unemployment rate for college graduates is and the unemployment rate for non-college graduates is. (Round your responses to three decimal places.) A randomly selected member of this population reports being unemployed. The probability that this worker is a college graduate is , and the probability that this worker is a non-college graduate is. (Round your responses to three decimal places.) Are educational achievement and employment status independent? A. Since Pr (X=0, Y= 1) # Pr (X=0), educational achievement and employment status are not independent. B. Since Pr (X= 0, Y= 1) = Pr (X=0), educational achievement and employment status are independent. O C. Since Pr (X=0| Y= 1)= Pr (X=0), educational achievement and employment status are independent. D. Since Pr (X= 0 | Y= 1)# Pr (X=0), educational achievement and employment status are not independent.
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