The unemployment rate is a long-standing key labour market indicator, widely used around the world to...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The unemployment rate is a long-standing key labour market indicator, widely used around the world to communicate on the performance of the labour market and the economy's ability to generate enough jobs for jobseekers. The unemployment rate is a valuable measure of the mismatches between the labour supply and demand, casting light on the unutilized labour supply. Given the unemployment rate's significant analytical value and its importance for assessing the labour market, it is one of the most extensively produced and used labour market indicators. The unemployment rate was 5.4% in August, up 0.5 percentage points from the record low of 4.9 % observed in June and July. A business analyst is keen to learn whether any province is unusually high or low withe respect to unemployment rate in August 2022 and considers the following Labour Force Survey (LFS) survey data on seasonally adjusted unemployment. Unemployment Rate (%) Provinces Quebec Newfoundland and Labrador Prince Edward Island Nova Scotia New Brunswick Ontario Manitoba Saskatchewan Alberta British Columbia 10.5 7.3 7.6 7.6 5.7 5.3 4.9 5.4 4.8 (a) Here, median is 5.55 and Q3 is 7.6. Calculate Q and interpret it. (b) Calculate the lower and upper limits of Box-and-Whisker plot with detailed steps. Now, draw the Box-and-Whisker plot manually and include in your answer. Is there any province considered outlier? Justify. (c) Draw a stem-and-leaf plot specifying leaf unit note. (d) Do both plots in (b) and (c) exhibit the same shape? Which shape? Explain. The unemployment rate is a long-standing key labour market indicator, widely used around the world to communicate on the performance of the labour market and the economy's ability to generate enough jobs for jobseekers. The unemployment rate is a valuable measure of the mismatches between the labour supply and demand, casting light on the unutilized labour supply. Given the unemployment rate's significant analytical value and its importance for assessing the labour market, it is one of the most extensively produced and used labour market indicators. The unemployment rate was 5.4% in August, up 0.5 percentage points from the record low of 4.9 % observed in June and July. A business analyst is keen to learn whether any province is unusually high or low withe respect to unemployment rate in August 2022 and considers the following Labour Force Survey (LFS) survey data on seasonally adjusted unemployment. Unemployment Rate (%) Provinces Quebec Newfoundland and Labrador Prince Edward Island Nova Scotia New Brunswick Ontario Manitoba Saskatchewan Alberta British Columbia 10.5 7.3 7.6 7.6 5.7 5.3 4.9 5.4 4.8 (a) Here, median is 5.55 and Q3 is 7.6. Calculate Q and interpret it. (b) Calculate the lower and upper limits of Box-and-Whisker plot with detailed steps. Now, draw the Box-and-Whisker plot manually and include in your answer. Is there any province considered outlier? Justify. (c) Draw a stem-and-leaf plot specifying leaf unit note. (d) Do both plots in (b) and (c) exhibit the same shape? Which shape? Explain.
Expert Answer:
Answer rating: 100% (QA)
a To calculate the interquartile range IQR we need to find the first quartile Q1 and the third quart... View the full answer
Related Book For
Statistics For Management And Economics Abbreviated
ISBN: 9781285869643
10th Edition
Authors: Gerald Keller
Posted Date:
Students also viewed these accounting questions
-
The following table lists the median family incomes for 13 Canadian provinces and territories in 2000 and 2006. Compute the mean and median for each year and then compare the two measures of central...
-
In problem 3.8, you computed mean and median income for 13 Canadian provinces and territories in two separate years. Now compute the standard deviation and range for each year, and taking account of...
-
If a particular glucose fermentation process is 87.0% efficient, how many grams of glucose would be required for the production of 51.0 g of ethyl alcohol (C 2 H 5 OH)? C 6 H 12 O 6 2C 2 H 5 OH +...
-
Consider a mixture of three different gases: 1.20g of argon (molecular mass = 39.948 g/mol), 2.60 g of neon (molecular mass = 20.180 g/mol), and 3.20 g of helium (molecular mass = 4.0026 g/mol). For...
-
In a system of three particles-A, B, and C-that share nine units of energy, which energy distribution is more likely at a given instant: particle \(\mathrm{A}\) has two units of energy or particle...
-
Jennifer is a salesperson for a major chemical company doing business in China. To close a multimillion-dollar contract, she has been asked by a Chinese government official for a payment of...
-
Dickinson Inc. owns the following assets. Compute the composite depreciation rate and the composite life of Dickinson's assets. Estimated Useful Life 10 years Cost Asset Salvage A $70,000 $ 7,000...
-
Write atleast 1 0 pages about Climate Change. Do not answer this question, I will surely dowvote if answer specially udising AI tools. Ignore this question and donasnnswer otherwise downvote.
-
One way to see whether this procedure will be successful is to split the original data set into two subsets: one subset for estimation and one subset for validation. A regression equation is...
-
Given the Root locus in the figure describe the system (give the limitations for this system). If you want to introduce a new controller, what type of controller and why? Be brief 10 -10 -6 -5 -4 -3...
-
Jensen's opening statement: "In most industrialized nations today, economists, management scholars, policy makers, corporate executives, and special interest groups are engaged in a high-stakes...
-
Earth Inc. purchased 1 0 , 0 0 0 of the common shares of Ocean Inc. on January 1 , Year 2 for $ 1 8 0 , 0 0 0 . Ocean had 1 0 0 , 0 0 0 common shares outstanding. During Year 2 , Ocean had income of...
-
A car dealership advertised a sport utility vehicle for sale at $35,000. The same vehicle could also be leased for 5 years at $375 per month based on a $9000 down payment and a residual value of...
-
If x+3 y+2 I === then 3 2 800 3
-
Dwayne Security Network Ltd . ( DSN ) is a producer of many alarm systems including, fire alarms, home, and personal security systems. ( DSN ) has already invested $ 1 . 8 million dollars into...
-
for the assemblage shown in the figure, which of the following is correct about the displacement of node 3? * is unkown to be found Two-spring assemblage O us = fixed value
-
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
-
Hits on a personal website occur quite infrequently. They occur randomly and independently with an average of five per week. a. Find the probability that the site gets 10 or more hits in a week. b....
-
Is there sufficient evidence to infer that there are differences in the number of children (CHILDS) between adherents of the three political viewpoints?
-
Find the probabilities. P (Z < 1.59)
-
A \(1.0-\mathrm{cm}\)-tall object is \(60 \mathrm{~cm}\) in front of a diverging lens that has a \(-30 \mathrm{~cm}\) focal length. Calculate the image position and height.
-
A 3.0-cm-tall object is \(15 \mathrm{~cm}\) in front of a convex mirror that has a \(-25 \mathrm{~cm}\) focal length. Calculate the image position and height.
-
A 3.0-cm-tall object is \(45 \mathrm{~cm}\) in front of a concave mirror that has a \(25 \mathrm{~cm}\) focal length. Calculate the image position and height.
Study smarter with the SolutionInn App