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Vlad [161]
2 years ago
12

PROBLEM: The Chicago Cubs play their home games at Wrigley Field, located in the Lakeview neighborhood of Chicago. A recent New

York Times study concluded that the probability that a randomly selected Lakeview resident is a Cubs fan is 0.44.
(a) Interpret this probability as a long-run relative frequency. ​
Business
1 answer:
sergij07 [2.7K]2 years ago
4 0

Answer:

If a large Number of Lakeview residents are questioned, about 44% of them will be Club fans.

Explanation:

Reporting the probability outcome of a singular observation are usually reported as stated above, that the probability of a random sample of Lakeview resident being a club fan is 0.44%. However from a long run relative frequency approach, it requires just more Than one random sample but a large number of samples being evaluated over time.

Hence to expresa as a long run relative frequency, it could be stated as ; report gathered from many Lakeview residents, about 44% of them are Club fans.

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2 years ago
You are given the following information for a country: Participation rate is 75%, the unemployment rate is 10%, the employment r
mariarad [96]

Answer:

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Explanation:

Given:

Participation rate is 75%

Unemployment rate is 10%

Employment rate is 67.5%

The number of employed is 27 million.

As the employment rate is 67.5% of the size of the labor force which means that  27 million people are employed, we can say that number of people are employed equals to 67.5 percent of the total size of the labor force and we can write it numerically as:

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