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    Probability Calculations

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    Please help with the following problems. Provide step by step calculations.

    A recently published study shows that a country's true unemployment rate to be 12%. Assume that 300 members of the labour force are selected at random.
    A) What is the expected number of people unemployed?
    B) What is the probability that exactly 29 people are unemployed?
    C) What is the probability that at least 29 people are unemployed?
    D) What is the probability that not more than 29 people are unemployed?

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    Solution Preview

    A) What is the expected number of people unemployed?

    p= 12% = percentage of people unemployed
    q=1-p= 88% = percentage of people employed

    n= 300

    Expected number of people unemployed=Mean= M =np= 36 =(300*0.12)

    Answer= 36

    B) What is the probability that exactly 29 people are unemployed?

    We can use the Poisson distribution to determine the probability
    ...

    Solution Summary

    This posting helps with problems involving probabilities and unemployment. Step by step calculations are provided.

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