The Next Question(s) Refer to the Following Data

question 53

Multiple Choice

The next question(s) refer to the following data:
Suppose a country using the Australian system of unemployment statistics has 300 million people, of whom 200 million are working age. Of these 200 million, 80 million have jobs. Of the remainder: 40 million are actively searching for jobs; 40 million would like jobs but are not searching; and 40 million do not want jobs at all.
-Refer to the information above. The labour force is:

• A) 120 million.
• B) 80 million.
• C) 200 million.
• D) 40 million.
• E) 160 million.

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Definitions:

Significance Level

The chance of incorrectly dismissing the null hypothesis in a statistical examination when it is in fact correct, often symbolized by alpha (α).

Confidence Level

The degree of confidence or certainty in a statistical conclusion, typically expressed as a percentage indicating how frequently the true parameter is expected to lie within the confidence interval.

Type I Error

The false rejection of an accurate null hypothesis, also known as a "false positive."

Sample Size

The number of observations or data points collected in a statistical study, which is crucial for determining the study's accuracy and reliability.