The U.S. Census Bureau serves as the leading source of quantitative data about the nation’s people and economy. The following cross-tabulation shows the number of households (1,000s) and the household income by the highest of level of education for the head of the household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included. Develop a joint probability table What is the probability of the head of one of these households having a master’s degree or more education? What is the probability of a household headed by someone with a high school diploma earning $100,000 or more? Highest Level of Education Household Income Under $25,000 $25,000 to $49,999 $50,000 to $99,999 $100,000 and Over TOTAL High School Graduate 9880 9970 9441 3482 32,773 Bachelor’s Degree 2484 4164 7666 7817 22,131 Master’s Degree 685 1205 3019 4094 9003 Doctoral Degree 79 160 422 1076 1737 TOTAL 13,128 15,499 20,548 16,469 65,644

The U.S. Census Bureau serves as the leading source of quantitative data about the nation’s people and economy. The following cross-tabulation shows the number of households (1,000s) and the household...

The U.S. Census Bureau serves as the leading source of quantitative data about the nation’s people and economy. The following cross-tabulation shows the number of households (1,000s) and the household income by the highest of level of education for the head of the household (U.S. Census Bureau website, 2013). Only households in which the head has a high school diploma or more are included.
1. Develop a joint probability table
2. What is the probability of the head of one of these households having a master’s degree or more education?
3. What is the probability of a household headed by someone with a high school diploma earning $100,000 or more?

Jun 10, 2022