Let S be the educational attainment of individuals in a town,with values S=0 for less than high school and S=1 for high schoolor above. Also, let Y be their individual annual income with valuesY=0 for less than $20,000, Y=1 for between $20,000 and $40,000, andY=2 for above $40,000. Consider now the following jointprobabilities:
| SY | Y=0 (less than $20K) | Y=1 ($20K-$40K) | Y=2 (more than $40K) |
| S=0 (Less than HS) | 0.05 | 0.03 | 0.01 |
| S=1 (HS or more) | 0.22 | 0.36 | 0.33 |
A) Determine the expected value (mean) of the conditionalexpected level of educational attainment (given the various levelsof individual annual income).
B) Determine the expected level of educational attainment.
