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The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent, 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
Population Parameter
A numerical characteristic or measure that describes an aspect of a population.
Sampling Error
The discrepancy between the statistical characteristics of a sample and those of the population from which the sample was drawn.
Sample Variance
A measure of dispersion that calculates how much the numbers in a sample differ from the mean of the sample.
Unbiased Estimate
An estimator or prediction that, on average, exactly matches the parameter being estimated in the population.
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