problem set 4

problem set 4 - Econ 330 Prof Sydnor Spring 2010 Problem...

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Econ 330 Prof Sydnor Spring 2010 Problem Set 4 Never Due – Just Practice for the Final 1. For each of the following findings, carefully explain (i) why it reflects a statistical mistake; and (ii) how it might be explained by the representativeness heuristic. a) Subjects in a survey were given the following: “Suppose Bjorn Borg reaches the Wimbledon finals in 1981. Please rank the following outcomes from most to least likely, with 1 being the most likely and 4 being the least likely.” (1.7) Borg will win the match. (2.7) Borg will lose the first set. (3.5) Borg will win the first set but lose the match. (2.2) Borg will lose the first set but win the match. Average rankings are in parentheses. [Note: when answering this one, let’s ignore the fact that the wording here is a little ambiguous, just as it was for the Linda example in class. Ideally we’d like to check these results by running a “between sample” test where we drop out some options, but don’t worry about that here. That said, if you don’t know what I’m running on about here, you should figure it out or come ask me. Ok, I’ll stop now…] b) Subjects were given the following information: “All families with six children in a city were surveyed. In 72 families the
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This note was uploaded on 09/18/2011 for the course ECON 330 taught by Professor Sydnor during the Spring '11 term at Case Western.

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problem set 4 - Econ 330 Prof Sydnor Spring 2010 Problem...

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