If the Number of Unemployed Workers Is 2 Million and the Number

question 79

Multiple Choice

If the number of unemployed workers is 2 million and the number in the labour force is 28 million, what is the unemployment rate?

• A)0.7%
• B)4%
• C)7%
• D)9%
• E)40%

Appreciate the importance of categorical data and how it is utilized in statistics.

Recognize the relevance of arithmetic operations in statistical analysis and their limitations based on the scale of measurement.

Understand the difference between types of data: categorical and quantitative.

Comprehend the concepts of sample and population in statistical studies.

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Definitions:

Transfer Payments

Payments made by governments to individuals or other entities without the expectation of a direct return or the provision of goods or services, such as social security benefits or subsidies.

Income Distribution

The way in which a nation's total GDP is distributed amongst its population.

Quintiles

Statistical values that divide a set of data into five equal parts, often used in economic and social research to analyze distribution.

Mental Problems

Disorders or issues affecting mental health and well-being, often requiring professional diagnosis and treatment.