I need to figure this equation out and I do not understand what the backwards E means
ODR= # of people aged ∃65
--------------------- x 100
# of people aged 15-64
The symbol you're referring to, the backwards E (∃), is a mathematical symbol called the "existential quantifier." In this context, it means "there exists" or "for some" in mathematics. It is used to express that there exists at least one person aged 65 or older.
To understand the equation, let's break it down step by step:
1. ODR stands for Old-age Dependency Ratio, which is a measure of the proportion of older people (aged 65 or older) compared to the working-age population (aged 15-64). The ODR expresses the burden on the working-age population to support the older population.
2. The numerator of the equation is the number of people aged 65 or older. This is denoted by the symbol ∃65. The backward E (∃) indicates that there exists at least one person aged 65 or older. So, to find the value, you would need to know the actual number of people aged 65 or older.
3. The denominator of the equation is the number of people aged 15-64. This represents the working-age population who would potentially be supporting the older population. Again, you need to know the actual number of people aged 15-64 to calculate this.
4. Once you have both the numerator and the denominator, you multiply the ratio by 100 to convert it into a percentage. This final result represents the Old-age Dependency Ratio, which gives you an idea of the burden or dependency on the working-age population due to the older population.
In summary, to solve the equation, you need to know the actual values for the number of people aged 65 or older (∃65) and the number of people aged 15-64. Plug those values into the equation, divide the numerator by the denominator, and then multiply the ratio by 100 to get the Old-age Dependency Ratio (ODR) as a percentage.