Problem set 1 is due in class on 9/9/2021. You may work in groups, but each of you must submit individual output. Part I

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Problem Set 1 Is Due In Class On 9 9 2021 You May Work In Groups But Each Of You Must Submit Individual Output Part I 1 (83.21 KiB) Viewed 50 times

Problem set 1 is due in class on 9/9/2021. You may work in groups, but each of you must submit individual output. Part I: Probability Exercise X and Y are binary random variables with the joint distribution given by X = 0 X = 1 Y = 0 0.6 0.15 Y = 1 0.1 0.15 For example, the probability of the event that Y 0 and X = 1 is 0.1. Now consider X and Y as random variables that represent, respectively, the college education of individuals and of their parents for a certain population. That is, ſi if individual completed college Y 0 if individual did not complete college ſi if at least one parent completed college 0 if no parents completed college. - (a) What is the college completion rate of individuals? What is the college completion rate of parents (at least one)? (b) What is the college completion rate of individuals whose parent (at least one) completed college? What is the college completion rate of individuals whose parents did not complete college? (c) Using your results from (a) and (b), describe the influence of parental college education on child's college education (3 - 5 sentences).