As was discussed in the Analytics in Action from Chapter 2, the U.S. Census Bureau is a

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As was discussed in the Analytics in Action from Chapter 2, the U.S. Census Bureau is a leading source of quantitative data related to the people and economy of the United States. The cross tabulation below represents the number of households (1,000s) and the household income by the highest level of education for the head of household (U.S. Census Bureau web site, 2013). Use this cross tabulation to answer the following questions.
As was discussed in the Analytics in Action from Chapter

a. Develop a joint probability table.
b. What is the probability the head of one of these households has a master's degree or higher education?
c. What is the probability a household is headed by someone with a high school diploma earning $100,000 or more?
d. What is the probability one of these households has an income below $25,000?
e. What is the probability a household is headed by someone with a bachelor's degree earning less than $25,000?
f. Are household income and educational level independent?

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Essentials of Business Analytics

ISBN: 978-1305627734

2nd edition

Authors: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

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