MACROECONOMICS >C< W/MYECONLAB
18th Edition
ISBN: 9781323886038
Author: Pearson
Publisher: Pearson Custom Publishing
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Chapter 21, Problem 3.1P
To determine
The statistically significant survey.
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Economist Michael Nieswiadomy of the University of North Texas collected data on Law School Admittance Test (LSAT)
scores for the 12 undergraduate majors listed most often by students hoping to enter law school in the class of 2008-9. The
table below gives the scores, as well as the ranking for each of these majors in 2008. Economics majors tied philosophy
majors for the highest average score.
333.
Table 1.1 LSAT Scores for Students Taking the Exam in 2008
Rank
1
1
3
4
5
6
7
8
9
10
11
12
Major
Economics
Philosophy
Engineering
History
English
Finance
Political science
Psychology
Sociology
Communications
Business administration
Criminal justice
Average LSAT Score # of Students
157.4
157.4
156.2
155.9
154.7
153.4
153.0
152.5
150.7
150.5
149.1
145.5
3,047
2,184
2,197
4,166
5,120
2,267
14,964
4,355
1,902
2,230
1,971
3,306
Source: Michael Nieswiadomy, "LSAT Scores of Economics Majors: The 2008-09 Class Update Journal of Economic Education, 41:3 (Summer 2010): 331-
Use the scientific method…
A researcher wants to study about the behaviours of postgraduate students in Australia in mobile phone usage.
One of the goals of the study is to analyse whether there is a relationship between the amount of time they spend using the mobile phone and their gender.
What are the two variables involved to achieve that goal?
A U.S. emergency relief agency is considering sending a team of experts to another country to treat a severely contagious disease outbreak. Each team costs $100,000 for this one-week-long job. The agency estimates effectiveness as follows:
0 teams = 1000 deaths;1 team = 500 deaths;2 teams = 250 deaths,3 teams = 50 deaths;4 teams = 50 deaths
Number of Teams
Number of Deaths
0
1,000
1
500
2
250
3
50
4
50
If the Agency is considering sending 3 teams vs. 2 teams, what is the marginal cost (in dollar terms) of sending the third team? If saving a life is valued at $200,000 then the optimal number of teams to send is _____.
Chapter 21 Solutions
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