2. State Unemployment. The Bureau of Labor Statistics randomly surveys Iowa resi

Question

2. State Unemployment. The Bureau of Labor Statistics randomly surveys Iowa residents (16 & older) each month to get a representation of the statewide unemployment rate. These surveys help to estimate the number of individuals 16 and older who are employed, unemployed, or not in the labor force. The unemployment rate is calculated by taking the number of individuals who are reportedly unemployed and dividing it by the total work force (unemployed employed) Individuals who are classified as "not in the labor force" will not be included in this calculation 2,300 randomly chosen Iowa residents (16 & older) were given this survey in November of 2017. 300 were classified as "not in the labor force," 58 were classified as "unemployed," and 1,94!2 were classified "employed." For each of the questions, select the correct answer from choices i. through viii. listed below (a) What is the population of interest? (b) What is the sample? (c) What is the parameter? (d) What is the statistic? Answer choices: i. All people living in Iowa in November of 2017. ii. The unemployment rate for all Iowa residents who are 16 & older iii. The 300 Iowa residents (16 & older) classified as "not in the labor force." iv. 2.9%, (58 classified as "unemployed") (58 classified as "unemployed + 1.942 classified as "employed") v. All Iowa residents who are 16 &older; in November of 2017. vi. 2.5%, (58 classified as "unemployed" )/(2,300 residents surveyed) vii. The unemployment rate for all Iowa residents who are 16 & older in November of 2017. viii. The 2,300 randomly chosen Iowa residents (16 & older) in November of 2017.

Explanation / Answer

Solution:-

a) v) All Iowa residents who are 16 and older in November of 2017.

b) viii) The 2300 randomly chosen Iowa residents (16 and older) in November of 2017.

c) vii) The Unemployment rate for all Iowa residents who are 16 and older in November of 2017.

d) iv) 2.9% (58 classified as "unemployed")/(58 classified as "Unemployed" + 1942 classified as "employed").

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