Question

There are 64,276 people under the age of 14 years oldThere are 213,159 people age between 15 and 64 years oldThere are 37,681 people over the age of 65 years oldWhat is the Old Age Dependency Ratio as a decimal rounded to the Thousandths place?

Answer 1

Given that:

- There are 64,276 people under the age of 14 years old.

- There are 213,159 people between 15 and 64 years old.

- There are 37,681 people over the age of 65 years old.

You need to find the Old-Age Dependency Ratio. Then, you need to remember that this is defined as the ratio that compares the number of people that are 65 years old or over 65 years old, and the number of people economically active.

Notice that, in this case, the number of people economically active is:

`64,276+213,159=277,435`

Therefore, you can set up:

`OldAgeDependencyRatio=(37,681)/(277,435)\approx0.136`

Hence, the answer is:

`OldAgeDependencyRatio\approx0.136`