Probability that the quarter has high productivity growth

Reference no: EM1393027

Higher productivity in the economy usually translates into higher increases in hourly compensation to workers. However, management often delays increasing compensation to show profits for the company. In the data file 'Productivity', for the period 1990 to 2001, productivity is labeled as high for each quarter if the annualized economic growth is at least 2%. In addition, the amount pay increase during the quarter is labeled as large if the hourly compensation is at least 4% on an annualized basis.

a) Suppose that a quarter is randomly selected, what is the probability that this quarter has high productivity growth and has a large pay increase?

b) If a quarter has high productivity, what is the probability that the quarter has a small pay increase?

c) Are the events of productivity and amount of hourly pay increase independent? Explain.

Reference no: EM1393027

Questions Cloud

Major entryway of carbon into the food chain : Estimate the major entryway of carbon into the food chain and what is major process that "fixes" carbon into biomass?

Determine the water pressure in such a pipe on the top floor : Water at a pressure of 3.4 atm at street level flows into an office building at a speed of 0.5 m/s through a pipe 7.00cm in diameter. The pipes taper down to 2.6 cm in diameter by the top floor, 28m above.

Application of descriptive statistics-inferential statistics : Provide an example from your work or home life; illustrate the difference between the application of descriptive statistics and inferential statistics.

Find the normal force exerted by the snow on the skier : A 59.00kg skier encounters a dip in the snow's surface that has a circular cross section with a radius of curvature of 12-m. If the skier's speed at point A is 7.0 m/s, what is the normal force exerted by the snow on the skier at point B? Ignore f..

Probability that the quarter has high productivity growth : Suppose that a quarter is randomly selected, what is the probability that this quarter has high productivity growth and has a large pay increase?

Explain cultural values from popular fiction-novel : Select the piece of popular fiction-novel, short story, graphic novel, or comic book-and study material through lens of popular culture and its effect on society.

Find out the time for the ball to reach crater floor : The tallest volcano in the solar system is the 22km tall Martian volcano, Olympus Mons. An astronaut drops a ball off the rim of the crater and that the free fall acceleration of the ball remains constant throughout the ball's 22km fall at a value..

Determining upper and lower control limit : Super Cola Bottles soft drinks labeled "net weight 16 ounces." An overall process average of 16.01 ounces has been found by taking several batches of samples, in which each sample contained 5 bottles.

Education is used as an indicator of a socioeconomic status : Education is often used as an indicator of a person's socioeconomic status. Historically, the number of years of schooling completed has been recorded in the census of population as a measure of education. Comment and support your reasoning

User Account

All Pages