1. is a simple calculation intended to help you get started with R. It is based

Question

1. is a simple calculation intended to help you get started with R. It is based The first question on the headline "80 percent of U.S. adults face near-poverty, unemployment, survey finds" from https://www.cbsnews.com/news/80-percent-of-us-adults-face-near-poverty- unemployment-survey-finds Consider the following facts: ity of being unemployed during a year is 4% The People work from age 25 to 64 (40 years) Assuming being employed/unemployed in one year is independent from being employed/unemployed in the previous year . . . Use R/Rstudio to calculate the probability that an individual faces a spell of unemployment during their life.

Explanation / Answer

Prob(an individual being unemployed in a year) = 0.04

So, Prob(an individual being employed in a year) = 1 - 0.04 = 0.96

Prob(an individual facing a spell of unemployment during their life)

= 1 - Prob(an individual was employed every year)

= 1 - 0.9640 (since employment in one year is independent of the other)

= 0.8046338

R-Code: 1-0.96^40

Implementatin in R:

> 1-0.96^40
[1] 0.8046338

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