The Accompanying Table Shows the Joint Distribution Between the Change

question 39

Essay

The accompanying table shows the joint distribution between the change of the unemployment rate in an election year and the share of the candidate of the incumbent party since 1928.You think of this data as a population which you want to describe,rather than a sample from which you want to infer behavior of a larger population.
Joint Distribution of Unemployment Rate Change and Incumbent Party's Vote
Share in Total Vote Cast for the Two Major-Party Candidates,
1928-2000
(a)Compute and interpret E(Y)and E(X).
(b)Calculate E(Y = 1)and E(Y = 0).Did you expect these to be very different?
(c)What is the probability that the unemployment rate decreases in an election year?
(d)Conditional on the unemployment rate decreasing,what is the probability that an incumbent will lose the election?
(e)What would the joint distribution look like under independence?

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Definitions:

FIFRA

Stands for the Federal Insecticide, Fungicide, and Rodenticide Act, a U.S. law that regulates the distribution, sale, and use of pesticides.

Tolerance Levels

The predetermined thresholds of risk that an organization or individual is willing to accept or deal with.

EPA

The Environmental Protection Agency, a U.S. federal agency responsible for protecting human health and the environment through regulations and various initiatives.

Toxic Substances Control Act

A United States law enacted in 1976 designed to regulate the introduction and use of chemicals and toxic substances in the environment.