«Oli ,1111 4:06 PM 4. ponts) The U.S. Census Bureau serves as the leading source

Question

«Oli ,1111 4:06 PM 4. ponts) The U.S. Census Bureau serves as the leading source of quanttative data sboutthe nation's people and sconomy. The following crosstabulation shows the number of households (1000s) and the household income by the highest level of education for the head of household (UCen5UB Bureau website, 2013). Only househoidsin which the head has high school diploma or more are indluded Household Inconie Highest Level f Under $25,000 to $50,000 t $100,000 and Total Education 849,999 9970 4164 160 High school 930 32,773 Bachelor's degree 2484 Master's degree 685 Dectoral degree 79 781 4094 1076 16,469 22,131 9003 1737 65,644 Total 15,499 20,548 Develop a joint probability table. What is the probability of the head of one of these household having a master's degree or more education? What is the probability of a housebold headed by someone with a high school diploma earning S100,000 or more? a. b. c. d. What is the probabiliry of one of these households having an income below $25,000 e What is the probability of a household hended by someone with a bachelor's degree earning less than $25,000?

Explanation / Answer

a) dividing each cell in table with 65644;

b)

P(master's degree or more education) =0.1371+0.0265 =0.1636

c)

P( high school diploma earning 100000 or more) =0.0530

d)

P( income below 25000)=0.2000

e)

P(bachelor degree earning less than 25000)=0.0378

<25000 25000-49999 50000-99999 >100000 Total high school 0.1505 0.1519 0.1438 0.0530 0.4993 Bachelor degree 0.0378 0.0634 0.1168 0.1191 0.3371 master degree 0.0104 0.0184 0.0460 0.0624 0.1371 doctorate 0.0012 0.0024 0.0064 0.0164 0.0265 total 0.2000 0.2361 0.3130 0.2509 1.0000

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