According to a study done by researchers at Georgetown University, recent colleg

Question

According to a study done by researchers at Georgetown University, recent college graduates who majored in architecture have the highest unemployment rate, at 14.4%. Arts majors are next, with an 11.1% unemployment rate for recent graduates (source: Georgetown Center on Education and the Workforce). Recent graduates are defined as eligible workers between the ages of 22 and 26. In a random sample of 240 recent architecture graduates, compute the

B.) variance of the random variable “number of grads who are unemployed .”

Explanation / Answer

Probability of an architecture grad being unemployed p = 0.144

Number of architecture grads n = 240

Mean = np = 240 * 0.144 = 34.56

1 - p = 1 - 0.144 = 0.856

Variance = np(1-p) = 34.56 * 0.856 = 29.58336.

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