7. (15 points) The following table gives the joint probability distribution between employment status and college graduation in the working age U.S. population aged 25 and older for 2012. (a) Let A = {up to high school degree} and B = {unemployed} be events. Find the unconditional unemployment rate Pr(B). Find the conditional unemployment rates Pr(BJA) and Pr(B|A"). Interpret these three values. B (unemployed) B (employed) A (non-college grads) 0.053 0.586 A (college grads) 0.015 0.346 (b) Now let the above joint probability distribution be stated in two random variables X and Y as follows. Find E(Y), E(Y X = 1), and E(Y X = 0). Interpret these three values. Y = 1 (unemployed) Y = 0 (employed) X = 1 (non-college grads) 0.053 0.586 X = 0 (college grads) 0.015 0.346