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 Employed (Y= 1) (Y= 0) Total Non-college grads (X=0) College grads (X= 1) 0.0593 0.6164 0.6757 0.0149 0.3094 0.3243 Total 0.0742 0.926 1.0002 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) =1-0.926 = 0.0742. 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 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 gráduate is (Round your responses. places.) three decimal Are educational achievement and employment status independent? O A. Since Pr (X 0|Y=1) = Pr (X=0), educational achievement and employment status are independent. OB. Since Pr (X=0, Y= 1) Pr (X=0), educational achievement and employment status are not independent. OC. Since Pr (X =0|Y= 1)+ Pr (X= 0), educational achievement and employment status are not independent. OD. Since Pr (X=0, Y 1)= Pr (X=0), educational achievement and employment status are 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 Employed (Y= 1) (Y= 0) Total Non-college grads (X=0) College grads (X= 1) 0.0593 0.6164 0.6757 0.0149 0.3094 0.3243 Total 0.0742 0.926 1.0002 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) =1-0.926 = 0.0742. 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 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 gráduate is (Round your responses. places.) three decimal Are educational achievement and employment status independent? O A. Since Pr (X 0|Y=1) = Pr (X=0), educational achievement and employment status are independent. OB. Since Pr (X=0, Y= 1) Pr (X=0), educational achievement and employment status are not independent. OC. Since Pr (X =0|Y= 1)+ Pr (X= 0), educational achievement and employment status are not independent. OD. Since Pr (X=0, Y 1)= Pr (X=0), educational achievement and employment status are independent.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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)
College grads (X= 1)
0.0593
0.6164
0.6757
0.0149
0.3094
0.3243
Total
0.0742
0.926
1.0002
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 – 0.926 = 0.0742.
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?
O A. Since Pr (X= 0| Y= 1) = Pr (X= 0), educational achievement and employment status are independent.
B. Since Pr (X=0, Y= 1)# Pr (X=0), educational achievement and employment status are not independent.
O C. Since Pr (X= 0 | Y= 1)± Pr (X= 0), educational achievement and employment status are not independent.
O D. Since Pr (X= 0, Y= 1) = Pr (X= 0), educational achievement and employment status are independent.
Click to select your answer(s).
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