The Labor Force Participation Rate Is the Number of People

question 117

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.For the company's sample,the probability that the proportion of people who are in the labor force is greater than 0.65 is _______.

• A) 0.1179
• B) 0.3000
• C) 0.3821
• D) 0.6179

Recognize the importance of ethical considerations in decision making.

Understand the disadvantages and advantages of group decision making.

Identify and understand the steps of the decision-making process.

Differentiate between various decision-making models.

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Definitions:

Chronologically

In order of time, from the earliest to the latest.

Unearned Revenues

Money received by a company for services or goods yet to be provided or delivered, recorded as a liability.

Revenues

Inflows of assets or settlements of liabilities from the company's primary operations, typically from sales of goods or services.

Debits

Accounting entries that increase assets or expenses or decrease liabilities, equity, and revenue.