Explore BrainMass

Explore BrainMass

    Hypothesis Test for Unemployment Rate Between Two Months

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Your mayor just announced that the local unemployment rate dropped last month from the prior month. It went from 10.5% to 10.4%. Is this a significant drop? Explain.

    © BrainMass Inc. brainmass.com October 10, 2019, 7:54 am ad1c9bdddf

    Solution Preview

    Hi there,

    I am happy to provide some guidance in this posting. Please send me a message if you require any further clarification or have any questions.

    The unemployment rate is a way to estimate the degree of unemployment within a certain area (city, state/province, country). Approximating the number of unemployed people within a given area and dividing by the approximate number of employed people within that same area determine the unemployment rate. The unemployment rate is expressed as a percentage.

    When the mayor announced that the unemployment rate had dropped from 10.5% to 10.4%, it is easy to ...

    Solution Summary

    This solution, comprised of over 350 words, includes a completely worked through answer for a specific statistics question regarding the unemployment rate within a city. Full hypothesis testing is done to determine whether the unemployment rate has changed significantly between two given months.