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06 Nov 2023, 10:59
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The largest year-to-year increase in the unemployment rate occurred from June 2008 to June 2009.: False
The difference between the lowest and highest November unemployment rates in percentage points is equal to the number recorded as the unemployment rate in November of 2004.: True
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
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66% (02:20) correct
34%
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Data Insights (DI) Butler 2023-24 [Question #95, Date: Nov-07-2023] [Click here for Details]
The following table shows the monthly U.S. unemployment rate from 2002 to 2011.
US Unemployment Rate from 2002 to 2011
| Year | Jan. | Feb. | Mar. | Apr. | May | June | July | Aug. | Sept. | Oct. | Nov. | Dec. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2002 | 5.7 | 5.7 | 5.7 | 5.9 | 5.8 | 5.8 | 5.8 | 5.7 | 5.7 | 5.7 | 5.9 | 6 |
| 2003 | 5.8 | 5.9 | 5.9 | 6 | 6.1 | 6.3 | 6.2 | 6.1 | 6.1 | 6 | 5.8 | 5.7 |
| 2004 | 5.7 | 5.6 | 5.8 | 5.6 | 5.6 | 5.6 | 5.5 | 5.4 | 5.4 | 5.5 | 5.4 | 5.4 |
| 2005 | 5.3 | 5.4 | 5.2 | 5.2 | 5.1 | 5 | 5 | 4.9 | 5 | 5 | 5 | 4.9 |
| 2006 | 4.7 | 4.8 | 4.7 | 4.7 | 4.6 | 4.6 | 4.7 | 4.7 | 4.5 | 4.4 | 4.5 | 4.4 |
| 2007 | 4.6 | 4.5 | 4.4 | 4.5 | 4.4 | 4.6 | 4.7 | 4.6 | 4.7 | 4.7 | 4.7 | 5 |
| 2008 | 5 | 4.9 | 5.1 | 5 | 5.4 | 5.6 | 5.8 | 6.1 | 6.1 | 6.5 | 6.8 | 7.3 |
| 2009 | 7.8 | 8.3 | 8.7 | 8.9 | 9.4 | 9.5 | 9.5 | 9.6 | 9.8 | 10 | 9.9 | 9.9 |
| 2010 | 9.7 | 9.8 | 9.8 | 9.9 | 9.6 | 9.4 | 9.5 | 9.6 | 9.5 | 9.5 | 9.8 | 9.4 |
| 2011 | 9.1 | 9 | 8.9 | 9 | 9 | 9.1 | 9.1 | 9.1 | 9 | 8.9 | 8.7 | 8.5 |
Consider each of the following statements. For each statement, indicate whether the statement is true or false, based on the information provided in the table.
Question #1 based on the same table is available here
| True | False | |
| The largest year-to-year increase in the unemployment rate occurred from June 2008 to June 2009. | ||
| The difference between the lowest and highest November unemployment rates in percentage points is equal to the number recorded as the unemployment rate in November of 2004. |
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Official Answer
The largest year-to-year increase in the unemployment rate occurred from June 2008 to June 2009.: False
The difference between the lowest and highest November unemployment rates in percentage points is equal to the number recorded as the unemployment rate in November of 2004.: True
Nikita45
Joined: 31 May 2021
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20 Nov 2023, 22:09
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21 Nov 2023, 11:20
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Official Explanation
Statement 1 False: It would be inefficient to calculate every possible difference. First, find the change from June 2008 to June 2009: 9.5 – 5.6 = 3.9 percentage points, so the task becomes one of determining whether there was ever a one-year increase of 4 percentage points or more. Prior to 2008, year-to year changes are generally less than 1 percentage point, so only the last few years need be examined. Since the unemployment rate spikes from 2008 to 2009, the other months of that year range are what must be considered. In fact, the rate for May jumped from 5.4% in 2008 to 9.4% in 2009. 350.
Statement 2: True: Sort on November. The lowest rate was 4.5% in 2006, and the largest was 9.9% in 2009. The difference, 9.9 – 4.5 = 5.4 percentage points, is in fact equal to the number recorded as the unemployment rate in November of 2004.
Statement 1 False: It would be inefficient to calculate every possible difference. First, find the change from June 2008 to June 2009: 9.5 – 5.6 = 3.9 percentage points, so the task becomes one of determining whether there was ever a one-year increase of 4 percentage points or more. Prior to 2008, year-to year changes are generally less than 1 percentage point, so only the last few years need be examined. Since the unemployment rate spikes from 2008 to 2009, the other months of that year range are what must be considered. In fact, the rate for May jumped from 5.4% in 2008 to 9.4% in 2009. 350.
Statement 2: True: Sort on November. The lowest rate was 4.5% in 2006, and the largest was 9.9% in 2009. The difference, 9.9 – 4.5 = 5.4 percentage points, is in fact equal to the number recorded as the unemployment rate in November of 2004.
