Discuss about the language of government statistics

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Reference no: EM131764250

Question: In the language of government statistics, you are "in the labor force" if you are available for work and either working or actively seeking work. The unemployment rate is the proportion of the labor force (not of the entire population) who are unemployed. Here are data from the Current Population Survey for the civilian population aged 25 years and over in a recent year. The table entries are counts in thousands of people.

Unemployment (5.3) If you know that a randomly chosen person 25 years of age or older is a college graduate, what is the probability that he or she is in the labor force? Show your work.

Reference no: EM131764250

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