According to the Bureau of Labor Statistics, in calendar year 2000, the average duration of unemployment was 12.7 weeks, with a

Question

3 years ago

7

According to the Bureau of Labor Statistics, in calendar year 2000, the average duration of unemployment was 12.7 weeks, with a

standard deviation of 0.3 weeks. Assuming that distribution is approximately normal, what is the probability that a randomly selected individual who was unemployed in 2000 would have been unemployed between 12 and 13 weeks?

Business

1 answer:

Verdich [7] · Answer 1 · 2022-02-03T21:26:16+03:00

Answer:

0.8314

Explanation:

First, we are given the following

Unemployment during on Average = U= 12.7 weeks

Standard deviation= SD = 0.3 Weeks

Therefore, P (12 Greater than x Greater than 13)

= P (12-12.7 /0.3 Greater than X -U/SD Greter than 13-12.7/0.3)

= P (-0.7/0.3 Greater than Z Greater than 0.3/0.3)

= P (-2.33 Greater than Z Greater than 1)

= P (Z Greater than 1) - P (Z Greaer than -2.33)

At this Point we make use of he Z table to find out the figure

= 0.8413 - 0.0099

= 0.8314