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Current population survey. The employment status (employed

Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich ISBN: 9780321826237 51

Solution for problem 37E Chapter 1

Statistics for Business and Economics | 12th Edition

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Statistics for Business and Economics | 12th Edition | ISBN: 9780321826237 | Authors: James T. McClave, P. George Benson, Terry T Sincich

Statistics for Business and Economics | 12th Edition

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Problem 37E

Problem 37E

Current population survey. The employment status (employed or unemployed) of each individual in the U.S. workforce is a set of data that is of interest to economists, businesspeople, and sociologists. To obtain information about the employment status of the workforce, the U.S. Bureau of the Census conducts what is known as the Current Population Survey. Each month interviewers visit about 50,000 of the 117 million households in the United States and question the occupants over 14 years of age about their employment status. Their responses enable the Bureau of the Census to estimate the percentage of people in the labor force who are unemployed (the unemployment rate).

a. Define the population of interest to the Census Bureau.

b. What variable is being measured? Is it quantitative or qualitative?

c. Is the problem of interest to the Census Bureau descriptive or inferential?

d. In order to monitor the rate of unemployment, it is essential to have a definition of unemployed. Different economists and even different countries define it in various ways. Develop your own definition of an “unemployed person.” Your definition should answer such questions as: Are students on summer vacation unemployed? Are college professors who do not teach summer school unemployed? At what age are people considered to be eligible for the workforce? Are people who are out of work but not actively seeking a job unemployed?

Step-by-Step Solution:

Solution:

Step 1 of 5:

            Given that, the employment status (employed or unemployed) of each individual in the U.S. The workforce is a set of data that is of interest to economists, business people, and sociologists. For every month interviewers visit about 50,000 of the 117 million households in the U.S, and the occupants over 14 years of age about their employment status.


Step 2 of 5

Chapter 1, Problem 37E is Solved
Step 3 of 5

Textbook: Statistics for Business and Economics
Edition: 12
Author: James T. McClave, P. George Benson, Terry T Sincich
ISBN: 9780321826237

Statistics for Business and Economics was written by and is associated to the ISBN: 9780321826237. Since the solution to 37E from 1 chapter was answered, more than 716 students have viewed the full step-by-step answer. The full step-by-step solution to problem: 37E from chapter: 1 was answered by , our top Business solution expert on 07/21/17, 05:42AM. The answer to “Current population survey. The employment status (employed or unemployed) of each individual in the U.S. workforce is a set of data that is of interest to economists, businesspeople, and sociologists. To obtain information about the employment status of the workforce, the U.S. Bureau of the Census conducts what is known as the Current Population Survey. Each month interviewers visit about 50,000 of the 117 million households in the United States and question the occupants over 14 years of age about their employment status. Their responses enable the Bureau of the Census to estimate the percentage of people in the labor force who are unemployed (the unemployment rate).a. Define the population of interest to the Census Bureau.b. What variable is being measured? Is it quantitative or qualitative?c. Is the problem of interest to the Census Bureau descriptive or inferential?d. In order to monitor the rate of unemployment, it is essential to have a definition of unemployed. Different economists and even different countries define it in various ways. Develop your own definition of an “unemployed person.” Your definition should answer such questions as: Are students on summer vacation unemployed? Are college professors who do not teach summer school unemployed? At what age are people considered to be eligible for the workforce? Are people who are out of work but not actively seeking a job unemployed?” is broken down into a number of easy to follow steps, and 223 words. This full solution covers the following key subjects: unemployed, census, Bureau, Interest, workforce. This expansive textbook survival guide covers 15 chapters, and 1631 solutions. This textbook survival guide was created for the textbook: Statistics for Business and Economics , edition: 12.

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