Suppose in Some Economy There Are 100 Million Workers; 10

question 146

Multiple Choice

Suppose in some economy there are 100 million workers; 10 million of those workers work in retail trade, and 1 million of the retail workers belong to unions. Total union membership in this economy is 40 million. The rate of unionization in retail trade is

• A) 1 percent.
• B) 10 percent.
• C) 40 percent.
• D) 100 percent.

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Definitions:

Variance

A statistical measure of the dispersion or spread in a set of data points, indicating how much the values differ from the mean of the set.

Variance

A measure of variability that denotes the average of the squared differences from the mean, showing how widely the values in a data set are spread.

Squared Deviations

Values obtained by subtracting the mean from each data point in a set, squaring the result to eliminate negative numbers, used in variance calculation.

Aptitude Test

An examination designed to measure a person's ability to develop skills or acquire knowledge, predicting future performance.