Question - You will be graduating soon and are deciding whether to look for jobs in Pittsburgh or in Philadelphia. The data show unemployment rates for people with bachelors degrees in your field in each of the cities over time.
Over this period, the average unemployment rate in your field in Pittsburgh was 1.8%. In Philadelphia, it was 2.1%. What is the probability that this apparent difference is due to random chance?
There is a 95% chance that, in the month you graduate, Pittsburgh's unemployment rate in your field will be between what two extremes? There is a 95% chance that, over the sixth months following your graduation, Pittsburgh's unemployment rate in your field will average between what two extremes? When employed, you can expect to earn $47,000 working in Pittsburgh but $54,000 working in Philadelphia. The cost of living is $6,000 per year higher in Philadelphia. Accounting for the difference in the expected unemployment rates and the difference in the costs of living, how much more spending money can you expect to have per year in Philadelphia versus Pittsburgh?