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Question 27 1 pla Let S be the educational attainment of individuals in a town, with values S=0 for less than high school and S-1
Question 27 1 pla Let S be the educational attainment of individuals in a town, with values S=0 for less than high school and S-1 for high school or above. Also, let Y be their individual annual income with values Y=0 for less than $20,000, Y-1 for between $20,000 and $40,000, and Y-2 for above $40,000. Consider now the following joint probabilities; SAY Y-0 (less than $20K) Y-1 ($20K-$40K) -2 (more than $40K) S=0 (Less than HS) 0.05 0.03 0.01 Y=1 (HS or more) 0.22 0.36 0.33 Determine the conditional standard deviation of the individual annual Income given that the level of educational attainment is less than high school
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