Question: Since the fall of 2008 millions of Americans have lost
Since the fall of 2008, millions of Americans have lost jobs due to the economic meltdown. A recent study shows that unemployment has not impacted white-collar and blue-collar workers equally (Newsweek, April 20, 2009). According to the Bureau of Labor Statistics report, while the national unemployment rate is 8.5%, it is only 4.3% for those with a college degree. It is fair to assume that 27% of people in the labor force are college educated. You have just heard that another worker in a large firm has been laid of. What is the probability that the worker is college educated?
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