hw 3

The expected value of Y, denoted E(Y), is ( Round your response to three decimal places.) The unemployment rate is the fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1E(Y). Unemployment rate =1Pr(Y=1)=1E(Y)=10.901=0.0994 E(YX=1) is . (Round your response to three decimal places.) E(YX=0) is . (Round your response to three decimal places.) The unemployment rate for college graduates is 0.064, and the unemployment rate for non-college graduates is 0.116. (Round your responses to three decimal places.) responses to three decimal places.) Are educational achievement and employment status independent? A. Since Pr(X=0,Y=1)=Pr(X=0), educational achievement and employment status are not independent. B. Since Pr(X=0Y=1)=Pr(X=0), educational achievement and employment status are independent. C. Since Pr(X=0Y=1)=Pr(X=0), educational achievement and employment status are not independent. D. Since Pr(X=0,Y=1)=Pr(X=0), educational achievement and employment status are independent. \begin{tabular}{lccc} \hline & Unemployed (Y=0) & Employed (Y=1) & Total \\ \hline Non-college grads (X=0) & 0.0414 & 0.6230 & 0.6644 \\ College grads (X=1) & 0.0101 & 0.3255 & 0.3356 \\ Total & 0.0515 & 0.949 & 1.0005 \\ \hline \end{tabular}