When using rational expectations, forecast errors will, on average, be ________ and ________ be predicted ahead of time. A) zero
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Complete Question
A hypothetical population consists of eight individuals ages 13 14 17 20 21 22 24 30 years.
A: what is the probability that a person in this population is a teenager?
B: what is the probability of selecting a participant who is at least 20 years old?
We have that probability that a person in this population is a teenager and probability of selecting a participant who is at least 20 years old is
From the question we are told
A hypothetical population consists of eight individuals ages 13, 14, 17, 20, 21, 22, 24, & 30 years.
- P(T)=0.38
- P(T')=0.63
a)
Generally the equation for the probability that a person in this population is a teenager is mathematically given as
P(T)=0.38
b)
Generally the equation for the probability of selecting a participant who is at least 20 years old is mathematically given as
P(T')=0.63
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