SOLUTION: Using your state’s current unemployment rate, what is the probability that you will be able to find a new job within 6 months after being laid off?
Oklahoma--- 5.3
This is what
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-> SOLUTION: Using your state’s current unemployment rate, what is the probability that you will be able to find a new job within 6 months after being laid off?
Oklahoma--- 5.3
This is what
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Question 482559: Using your state’s current unemployment rate, what is the probability that you will be able to find a new job within 6 months after being laid off?
Oklahoma--- 5.3
This is what I came up with do not know if it is right or wrong.
p(u)=.53^n
p(u=1)=.053-----------------0.053
p(u=2)=.053^2---------------0.002809
p(u=3)=.053^3---------------0.00014888
p(u=4)=.053^4---------------7.890481*10 to the -06 power
p(u=5)=.053^5---------------4.18195493*10 to the -07 power
once I add the right column up I get 0.05596619
so my answer would be p(1<=u<6)= 0.05596619
Is this correct or did I do it all wrong?
Thank you for your time Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Using your state’s current unemployment rate, what is the probability that you will be able to find a new job within 6 months after being laid off?
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You need the probability that a randomly chosen individual
in your state will find a job within 6 months after being laid off.
That value will be your "p" for a binomial distribution.
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Then you need a random sample of size "n" of people who were
laid off.
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Then you can calculate the probability distribution for
0 to n of those people who will find a job within 6 months
after being laid off.
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Cheers,
Stan H.
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Cheers,
Stan H.
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