The table below shows the unemployment rate and the available workforce for three counties in northwest Pennsylvania

Question:

The table below shows the unemployment rate and the available workforce for three counties in northwest Pennsylvania for May 2010 and April 2013.

image text in transcribed

a. In May 2010, the national unemployment rate was 9.7%. For May 2010, compute a simple average unemployment index for the region using the national unemployment rate as the base. Interpret the simple average index.
b. In April 2013, the national unemployment rate was 7.6%. For April 2013, compute a simple average unemployment index for the region using the national unemployment rate as the base. Interpret the simple average index.
c. Use the data for this region of northwest Pennsylvania to create a weighted unemployment index using the Laspeyres method. Use May 2010 as the base period. Interpret theindex.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistical Techniques In Business And Economics

ISBN: 356

16th Edition

Authors: Douglas Lind, William Marchal

Question Posted: