2. The Current Population Survey (CPS) is a major source for labor force data for the population of the United States. Table 2 provides the frequency of responses to a CPS question on household income. Frequency Probability Total Household Income (estimated from relative frequency) 35,259 Under $25,000 44,243 $25,000 to $49,999 37,381 $50,000 to $74,999 28,312 $75,000 to $99,999 57,439 $100,000 or over Total Table 2. Total household income (from 2015 Annual Social and Economic Supplement, Current Population Survey). a. How many people responded to the survey? b. Calculate the relative frequencies for each of the possible responses. (Round relative frequencies to four decimal places.) Use the relative frequencies to complete the last column of Table 2. c. What is the probability that a randomly chosen household will have a total income less than $100,000? d. What is the probability that a randomly chosen household will have a total income of at least $75,000? e. What is the probability that a randomly selected household has a total income below $75,000?
2. The Current Population Survey (CPS) is a major source for labor force data for the population of the United States. Table 2 provides the frequency of responses to a CPS question on household income. Total Household Income Frequency Probability (estimated from relative frequency) Under $25,000 35,259 $25,000 to $49,999 44,243 $50,000 to $74,999 37,381 $75,000 to $99,999 28,312 $100,000 or over 57,439 Total Table 2. Total household income (from 2015 Annual Social and Economic Supplement, Current Population Survey). a. How many people responded to the survey? b. Calculate the relative frequencies for each of the possible responses. (Round relative frequencies to four decimal places.) Use the relative frequencies to complete the last column of Table 2. c. What is the probability that a randomly chosen household will have a total income less than $100,000? d. What is the probability that a randomly chosen household will have a total income of at least $75,000? e. What is the probability that a randomly selected household has a total income below $75,000?
Activity_7_2_3.docx