Suppose the following data represent the number of persons unemployed for a given number of months in
Question:
Suppose the following data represent the number of persons unemployed for a given number of months in Killeen, Texas. The values in the first column show the number of months unemployed and the values in the second column show the corresponding number of unemployed persons.
Months Number
Unemployed Unemployed
1 .............................................. 1,029
2 ..............................................1,686
3 ..............................................2,269
4 ..............................................2,675
5 ..............................................3,487
6 ..............................................4,652
7 ..............................................4,145
8 ..............................................3,587
9 ..............................................2,325
10 .............................................1,120
Let x be a random variable indicating the number of months a randomly selected person is unemployed.
a. Use the data to develop an empirical discrete probability distribution for x.
b. Show that your probability distribution satisfies the conditions for a valid discrete probability distribution.
c. What is the probability that a person is unemployed for two months or less? Unemployed for more than two months?
d. What is the probability that a person is unemployed for more than six months?
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Essentials of Business Analytics
ISBN: 978-1305627734
2nd edition
Authors: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson