Chapter 8, Problem 63CP

Unemployed college grads The U.S Bureau of the Census reports that based on data from the American Community Survey in 2012, 3.6 percent of all college graduates between the ages of 25 and 64 were unemployed. A larger percentage of men than women were unemployed: 3.7 percent and 3.5 percent, respectively.

1. a. Are these point estimates or interval estimates?
2. b. Is the information given here sufficient for you to construct confidence intervals for the unemployment rate of males and females? Why or why not?

To determine

Check whether the given percentages are point estimates or interval estimates.

Answer to Problem 63CP

The given percentages are point estimates.

Explanation of Solution

The given information is that the percentage of men unemployed is 3.7 and the percentage of women unemployed is 3.5.

Point estimate:

If the single number represents the guess for the parameter then it can be termed as point estimate.

Interval estimate:

If the interval of numbers has the high probability of containing the actual value of the parameter then it can be termed as interval estimate.

From the given information, it can be observed that the given percentages represent the numbers. Therefore, the given percentages are point estimates.

To determine

Check whether the given information is sufficient to construct confidence intervals and explain the reason.

Answer to Problem 63CP

No, the given information is not sufficient to construct confidence intervals.

Explanation of Solution

For finding confidence intervals, sample size is to be known. From the given information, it can be observed that the sample size required to construct confidence intervals is not given. Therefore, the given information is not sufficient to construct confidence intervals.