Self-employment Rates in India
Self-employment rates have been increasing in the rural areas of India. In urban areas, this rate is as low as 41.1%. Suppose that we take a random sample of 800 fresh graduates in urban areas and they independently make the decision of being self-employed.
a. How many of the 800 graduates would you expect to be self employed?
b. What is the standard deviation for the number of self-employed?
c. According to the Empirical Rule, in 95% of all samples of 800 persons, the number of self-employed would vary between what two values?
d. In a random sample of 800, how many would you expect not to choose self-employment?
e. If 500 were self-employed and 300 were not self-employed, would 500 be a surprisingly large number of self-employed?