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Hey everyone, today we're answering problem number 44 from chapter 14 of the textbook, which tells us in country a, there is a total population of 300 million people, and of these 300 million people, 50 million of them live beneath the poverty line.
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With this information given, we're asked to calculate the poverty rate.
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So the formula for our poverty rate that all of you should know, i recommend summarizing it, you don't need to memorize it.
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It's pretty intuitive.
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It's just the number of people.
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So abbreviate people.
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The number of people below the poverty line, remember, the poverty line tells us how many people do not have a basic standard of living.
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That's what the measure is of a poverty line.
01:00
That's how we measure the poverty line, excuse me, is those who are near poverty or below that line where they don't have much.
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For this extensive limit.
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So it's the number of people to experience that and then it's also it's going to be divided by total population, which i'll agree with with ppm.
01:36
Actually, i'll just start population.
01:40
Obviously the total population, you're a total number of people in the country.
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So hopefully you guys can start to get an idea of what we're going to be inputting.
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And there's one more part.
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This whole number has to be multiplied...