The Labor Force Participation Rate Is the Number of People

question 81

Multiple Choice

The labor force participation rate is the number of people in the labor force divided by the number of people in the country who are of working age and not institutionalized.The BLS reported in February 2012 that the labor force participation rate in the United States was 63.7% (Calculatedrisk.com) .A marketing company asks 120 working-age people if they either have a job or are looking for a job,or,in other words,whether they are in the labor force.What is the probability that fewer than 60% of those surveyed are members of the labor force?

• A) 0.2005
• B) 0.7995
• C) 0.8400
• D) 0.9706

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Definitions:

Short-Term Memory

A limited-capacity memory system capable of briefly storing information for a short period before it is forgotten or transferred to long-term memory.

Short-Term Memory

The part of the memory system that temporarily holds a limited amount of information for a brief period.

Digits

Numerals (0-9) used in numerical systems, or the fingers and toes of hands and feet.