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That's not because Florida has a high Latino population share, though it does.
Because Arnobio's estimates are adjusting for the size of the overall population and the fraction of residents that are Latino.
So he's basically comparing what fraction of Latinos own businesses in a given geographic area to the fraction of all residents of that area that own businesses.
Listen to native speakers pronounce “Arnobio” in real conversational contexts with synchronized timestamps and subtitles.