/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Problem 4 In November the U.S. unemploymen... [FREE SOLUTION] | 91影视

91影视

Log out

Learning Materials

Features

Discover

Chapter 5: Problem 4

In November the U.S. unemployment rate was \(4.5 \%\) (USA Today, January 4,2007 ). The Census Bureau includes nine states in the Northeast region. Assume that the random variable of interest is the number of Northeast states with an unemployment rate in November that was less than \(4.5 \% .\) What values may this random variable assume?

Short Answer

Expert verified
The random variable can assume values 0 to 9.

Step by step solution

01

Understanding the Problem

The problem involves identifying the possible values for the number of states with an unemployment rate below 4.5%. Given there are 9 states in the Northeast, we need to determine what values the random variable can take.
02

Identify Possible Values

Since there are 9 states, each state can either have an unemployment rate below 4.5% or not. Thus, the random variable representing the number of states with unemployment below 4.5% can vary.
03

List All Possible Values

The number of states with low unemployment can range from 0 (none of the states) to 9 (all of the states). Therefore, the possible values are 0, 1, 2, 3, 4, 5, 6, 7, 8, and 9.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Unemployment Rate
The unemployment rate is a key economic indicator that reflects the percentage of the labor force that is without a job but actively seeking employment. In economic discussions, a lower unemployment rate generally signifies a healthier economy as more people have jobs. The given problem highlights an unemployment rate of 4.5% for the U.S. recorded in a specific month. This figure acts as a benchmark to investigate how individual regions or states compare.
In our particular exercise, we are concerned with determining how many states in the Northeast region have unemployment rates below this national average of 4.5%. A lower unemployment rate below this average might indicate better economic health than the national standard in those states.
Random Variable
In statistics, a random variable is a numerical outcome of a random phenomenon. In simple terms, it is a way to map events to numbers. For our exercise, the random variable is defined as the number of Northeast states with an unemployment rate less than 4.5%.
As each of the nine states can independently meet the condition (unemployment rate less than 4.5%) or not, the random variable consequently can take any integer value from 0 to 9. Here, '0' means none of the states meet the condition and '9' indicates all of them do. This type of random variable is discrete because it can only take distinct, separate values.
Northeast Region
The Northeast region, as defined by the Census Bureau, includes a grouping of nine states in the northeastern part of the United States. These states often share similar economic and social characteristics due to their geographic proximity. In this exercise, evaluating unemployment in these states as a collective entity helps illustrate regional economic trends.
Remember, while national unemployment rates provide a broad economic overview, regional analysis can sometimes reveal unique patterns or disparities. Understanding the unemployment rates of each of these individual nine states could demonstrate how regions perform distinctly compared to the national average, possibly uncovering areas that are thriving or struggling.

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Consider a binomial experiment with two trials and \(p=.4\) a. Draw a tree diagram for this experiment (see Figure 5.3 ). b. Compute the probability of one success, \(f(1)\). c. Compute \(f(0)\). d. Compute \(f(2)\). e. Compute the probability of at least one success. f. Compute the expected value, variance, and standard deviation.

During the period of time that a local university takes phone-in registrations, calls come in at the rate of one every two minutes. a. What is the expected number of calls in one hour? b. What is the probability of three calls in five minutes? c. What is the probability of no calls in a five-minute period?

A shipment of 10 items has two defective and eight nondefective items. In the inspection of the shipment, a sample of items will be selected and tested. If a defective item is found, the shipment of 10 items will be rejected. a. If a sample of three items is selected, what is the probability that the shipment will be rejected? b. If a sample of four items is selected, what is the probability that the shipment will be rejected? c. If a sample of five items is selected, what is the probability that the shipment will be rejected? d. If management would like a .90 probability of rejecting a shipment with two defective and eight nondefective items, how large a sample would you recommend?

Blackjack, or twenty-one as it is frequently called, is a popular gambling game played in Las Vegas casinos. A player is dealt two cards. Face cards (jacks, queens, and kings) and tens have a point value of \(10 .\) Aces have a point value of 1 or \(11 .\) A 52 -card deck contains 16 cards with a point value of 10 (jacks, queens, kings, and tens) and four aces. a. What is the probability that both cards dealt are aces or 10 -point cards? b. What is the probability that both of the cards are aces? c. What is the probability that both of the cards have a point value of \(10 ?\) d. A blackjack is a 10 -point card and an ace for a value of \(21 .\) Use your answers to parts (a), (b), and (c) to determine the probability that a player is dealt blackjack. (Hint: Part (d) is not a hypergeometric problem. Develop your own logical relationship as to how the hypergeometric probabilities from parts (a), (b), and (c) can be combined to answer this question.)

Three students scheduled interviews for summer employment at the Brookwood Institute. In each case the interview results in either an offer for a position or no offer. Experimental outcomes are defined in terms of the results of the three interviews. a. List the experimental outcomes. b. Define a random variable that represents the number of offers made. Is the random variable continuous? c. Show the value of the random variable for each of the experimental outcomes.
See all solutions

Recommended explanations on Math Textbooks

Discrete Mathematics

Read Explanation

Statistics

Read Explanation

Probability and Statistics

Read Explanation

Geometry

Read Explanation

Decision Maths

Read Explanation

Pure Maths

Read Explanation
View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.