Econ120BCh2

Econ120BCh2 - Chapter 2 Answers 2.5, 2.6, 2.7, 2.8, 2.10,...

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Chapter 2 Answers 2.5, 2.6, 2.7, 2.8, 2.10, 2.14, 2.15, 2.19 5. Let X denote temperature in F and Y denote temperature in C. Recall that Y 0 when X 32 and Y 100 when X 212; this implies (100/180) ( 32) or 17.78 (5/9) . YX Y X    Using Key Concept 2.3,  70 F X implies that 17.78 (5/9) 70 21.11 C, Y  X and 7F implies (5/9) 7 3.89 C. Y  6. The table shows that Pr( 0, 0) 0 045, XY  Pr ( 0, 1) 0 709, Pr ( 1, 0) 0 005, Pr ( 0 2 41, Pr ( 0) 0 754, X   ( 0 246, X Pr 0) 0 050, Y 0 950. Y (a)        () 0 P r ( 0 ) 1P r ( 1 ) 0 0 050 1 0 950 0 950 Y EY Y Y (b) (unemployed) Unemployment Rate (labor force) 0) 0 050 1 0 950 1 ( ) # # YE Y   (c) Calculate the conditional probabilities first: Pr ( 0, 0) 0 045 Pr ( 0| 0) 0 0597, Pr ( 0) 0 754 X  Pr ( 0, 0 709 Pr ( 1| 0) 0 9403, Pr ( 0) 0 754 X Pr ( 0) 0 005 Pr ( 0| 0 0203, Pr ( 0 246 X Pr ( 0 241 Pr ( 0 9797 Pr ( 0 246 X (d) Use the solution to part (b), Unemployment rate for college grads 1 ( | 1 0.9797 0.0203. Unemployment rate for non-college grads 1 ( | 0) 1 0.9403 0.0597. EYX    (e) The probability that a randomly selected worker who is reported being unemployed is a college graduate is Pr ( 0) 0 005 Pr ( 0) 0 1 Pr ( 0) 0 050 Y The probability that this worker is a non-college graduate is
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Pr ( 0| 0) 1 Pr ( 1| 0) 1 0 1 0 9 XY X Y      (f) Educational achievement and employment status are not independent because they do not satisfy that, for all values of x and y , Pr ( | ) Pr ( ) Yy Xx
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Econ120BCh2 - Chapter 2 Answers 2.5, 2.6, 2.7, 2.8, 2.10,...

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