Statistics for Business and Economics
1st Edition
ISBN: 9780132745680
Author: NEWBOLD, Paul/ Carlson
Publisher: Pearson College Div
expand_more
expand_more
format_list_bulleted
Question
Chapter 3.4, Problem 55E
To determine
The joint probability of ‘middle income’ and ‘occasional’.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
This problem involves empirical probability. The table shows the breakdown of 95 thousand single parents on active
duty in the U.S. military in a certain year. All numbers are in thousands and rounded to the nearest thousand. Use
the data in the table to find the probability that a randomly selected single parent in the U.S. military is in the Army.
Male
Female
Total
Army
24
10
34
Navy
27
8
35
Marine
Corps
5
1
6
Air
Force
146 20
Total
70
25
95
The probability that a randomly selected single parent in the U.S. military is in the Army is
(Type an integer or decimal rounded to the nearest hundredth as needed.)
Refer to Table 3.10.What is the joint probability of “low income” and “regular”?
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…
Chapter 3 Solutions
Statistics for Business and Economics
Ch. 3.1 - Prob. 1ECh. 3.1 - Prob. 2ECh. 3.1 - Prob. 3ECh. 3.1 - Prob. 4ECh. 3.1 - Prob. 5ECh. 3.1 - Prob. 6ECh. 3.1 - Prob. 7ECh. 3.2 - Prob. 8ECh. 3.2 - Prob. 9ECh. 3.2 - Prob. 10E
Ch. 3.2 - Prob. 11ECh. 3.2 - In a city of 180,000 people there are 20,000 legal...Ch. 3.2 - Prob. 13ECh. 3.2 - Prob. 14ECh. 3.2 - Prob. 15ECh. 3.2 - Prob. 16ECh. 3.2 - Prob. 17ECh. 3.2 - Prob. 18ECh. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Prob. 21ECh. 3.3 - Prob. 22ECh. 3.3 - Prob. 23ECh. 3.3 - Prob. 24ECh. 3.3 - Prob. 25ECh. 3.3 - Prob. 26ECh. 3.3 - Prob. 27ECh. 3.3 - Prob. 28ECh. 3.3 - Prob. 29ECh. 3.3 - Prob. 30ECh. 3.3 - Prob. 31ECh. 3.3 - Prob. 32ECh. 3.3 - Prob. 33ECh. 3.3 - Prob. 34ECh. 3.3 - Prob. 35ECh. 3.3 - Prob. 36ECh. 3.3 - Prob. 37ECh. 3.3 - Prob. 38ECh. 3.3 - Prob. 39ECh. 3.3 - Prob. 40ECh. 3.3 - Prob. 41ECh. 3.3 - Prob. 42ECh. 3.3 - Prob. 43ECh. 3.3 - Prob. 44ECh. 3.3 - Prob. 45ECh. 3.3 - Prob. 46ECh. 3.3 - Prob. 47ECh. 3.3 - Prob. 48ECh. 3.3 - Prob. 49ECh. 3.3 - Prob. 50ECh. 3.3 - Prob. 51ECh. 3.4 - Prob. 52ECh. 3.4 - Prob. 53ECh. 3.4 - Prob. 54ECh. 3.4 - Prob. 55ECh. 3.4 - Prob. 56ECh. 3.4 - Prob. 57ECh. 3.4 - Prob. 58ECh. 3.4 - Prob. 59ECh. 3.4 - Prob. 60ECh. 3.4 - Prob. 61ECh. 3.4 - Prob. 62ECh. 3.4 - Prob. 63ECh. 3.4 - Prob. 64ECh. 3.4 - Prob. 65ECh. 3.4 - Prob. 66ECh. 3.4 - Prob. 67ECh. 3.4 - Prob. 68ECh. 3.4 - Prob. 69ECh. 3.4 - Prob. 70ECh. 3.4 - Prob. 71ECh. 3.4 - Prob. 72ECh. 3.4 - Prob. 73ECh. 3.4 - Prob. 74ECh. 3.4 - Prob. 75ECh. 3.4 - Prob. 76ECh. 3.4 - Prob. 77ECh. 3.5 - Prob. 78ECh. 3.5 - Prob. 79ECh. 3.5 - Prob. 80ECh. 3.5 - Prob. 81ECh. 3.5 - Prob. 82ECh. 3.5 - Prob. 83ECh. 3.5 - Prob. 84ECh. 3.5 - Prob. 85ECh. 3.5 - Prob. 86ECh. 3.5 - Prob. 87ECh. 3 - Prob. 88ECh. 3 - Prob. 89ECh. 3 - Prob. 90ECh. 3 - Prob. 91ECh. 3 - Prob. 92ECh. 3 - Prob. 93ECh. 3 - Prob. 94ECh. 3 - Prob. 95ECh. 3 - Prob. 96ECh. 3 - Prob. 97ECh. 3 - Prob. 98ECh. 3 - Prob. 99ECh. 3 - Prob. 100ECh. 3 - Prob. 101ECh. 3 - Prob. 102ECh. 3 - Prob. 103ECh. 3 - Prob. 104ECh. 3 - Prob. 105ECh. 3 - Prob. 106ECh. 3 - Prob. 107ECh. 3 - Prob. 108ECh. 3 - Prob. 109ECh. 3 - Prob. 110ECh. 3 - Prob. 111ECh. 3 - Prob. 112ECh. 3 - Prob. 113ECh. 3 - Prob. 114ECh. 3 - Prob. 115ECh. 3 - Prob. 116ECh. 3 - Prob. 117ECh. 3 - Prob. 118ECh. 3 - Prob. 119ECh. 3 - Prob. 120ECh. 3 - Prob. 121ECh. 3 - Prob. 122E
Knowledge Booster
Similar questions
- What is the median of the distribution?arrow_forwardThe 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…arrow_forwardCompute the Posterior Probabilities by completing the tablearrow_forward
- The U.S. Census Bureau serves as the leading source of quantitative dataabout the nation's people and economy. The following crosstabulationshows the number of households (1000s) and the household income by the highest level of education for the head of household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included. a. Develop a joint probability table.b. What is the probability of the head of one of these householdshaving a master's degree or more education?c. What is the probability of a household headed by someone with ahigh school diploma earning $100,000 or more: d. What is the probability of one of these households having anincome below $25,000?e. What is the probability of a household headed by someone with abachelor's degree earning less than $25,000?f. Is household income independent of educational level?arrow_forwarduse the data to compute the probability that an adult in the tri state region smokes kentucky 47 176 indiana 32 134 ohio 39 182 total 118 492arrow_forwardThe 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. Non-college grads (X=0) College grads (X= 1) Total Unemployed (Y=0) 0.0554 0.0135 0.0689 Employed (Y=1) 0.6227 0.3084 0.931 Total 0.6781 0.3219 0.9999 The expected value of Y, denoted E(Y), is 0.931. (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)=1-0.931 = 0.0689.arrow_forward
- Brain tumors in children are rare: the base rate is only about 1/10,000. A child with a tumor is very likely to have occasional headaches: 99 out of 100 do. But there are many other reasons a child can have a headache: of those who do not have a tumor, 1 in 10 have occasional headaches. 1. Given that a child has occasional headaches (H), what it the probability that he or she has a brain tumor (T)? Show your work. 2. Name a behavioral bias that may occur when estimating the probability that your child has a brain tumor. Would this bias lead to under-or-overestimate that probability? Explain. 3. Among children with headaches (H), 999/1000 will ultimately be fine (F). Suppose that a physician using a simple test can correctly determine whether the child is fine or not in 95/100 of children with headaches. Given that the doctor after performing the test gives the patient a green light (G), what is the probability that the child really will be fine? Show your work.. Page 1 of 1 175 words…arrow_forwardAccording to a recent Wall Street Journal article, about 2% of new US car sales are electric vehicles (data from Edison Electric Institute reported by Jinjoo Lee, "Peak Oil? Not This Year. Or This Decade," January 9, 2021 pg. B12). Suppose a company has 111 employees who drive new cars (separately) to work each day. What is the probability that at least one of them will drive an electric car? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forwardThe following table shows the results of a survey conducted by Impulse Research for the Downtown Cookie Company. In the survey, 1050 adults were asked to identify their favorite cookie. a. b. Favorite Cookie Chocolate chip Peanut butter Oatmeal Sugar/shortbread Other Total Frequency 483 231 147 126 63 1050 Determine the probability distribution. What is the probability of selecting a person whose favorite cookie was chocolate chip? C. What is the probability of selecting a person whose favorite cookie was not chocolate chip? d. What is the probability of selecting a person whose favorite cookie was chocolate chip or a person whose favorite cookie was peanut butter?arrow_forward
- A film distribution manager calculates that 9% of the films released are flops. If the manager is right, what is the probability that the proportion of flops in a sample of 506 released films would differ from the population proportion by greater than 3%? Round your answer to four decimal places.arrow_forwardIn the July 29, 2001, issue of The Journal News (Hamilton, Ohio), Lynn Elber of the Associated Press reported that “while 40 percent of American families own a television set with a V-chip installed to block designated programs with sex and violence, only 17 percent of those parents use the device.”(a)Use the report’s results to find an estimate of the probability that a randomly selected American family has used a V-chip to block programs containing sex and violence.find P(V and U)According to the report, more than 50 percent of parents have used the TV rating system (TV-14, etc.) to control their children’s TV viewing. How does this compare to the percentage using the V-chip?arrow_forwardA class consists of 17 women and 65 men. If a student is randomly selected, what is the probability that the student is a woman?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education