Question

A study shows that unemployment has not impacted white-collar and blue-collar workers equally (Newsweek, April 20, 2009). According to the Bureau of Labor Statistics report, while the national unemployment rate is 8.5%, it is only 4.3% for those with a college degree. It is fair to assume that 27% of people in the labor force are college educated. You have just heard that another worker in a large firm has been laid off. What is the probability that the worker is college educated

Answer 1

Answer:

0.137

Step-by-step explanation:

The computation is shown below:

Educated = 0.27

And, unemployed to educated is 0.043

Now probability of educated and unemployed is

= 0.043 × 0.27

= 0.1161

So, the educated would be

= 0.01161 ÷ 0.085

= 0.137