Assignment:
Since the fall of 2008, millions of Americans have lost jobs due to the economic meltdown. A recent study shows that unemployment has not impacted males and females in the same way (Newsweek, April 20,2009). According to a Bureau of Labor Statistics report, 8.5% of those who are eligible to work are unemployed. The unemployment rate is 8.8% for eligible men and only 7.0% for eligible women. Suppose 52% of the eligible workforce in the U.S. consists of men.
a. You have just heard that another worker in a large firm has been laid off. What is the probability that this worker is a man?
b. You have just heard that another worker in a large firm has been laid off. W hat is the probability that this worker is a woman?
Provide complete and step by step solution for the question and show calculations and use formulas.