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. Thetable below gives the scores, as well as the ranking for each of these majors in 2008. Economics majors tied philosophymajors for the highest average score.333.Table 1.1 LSAT Scores for Students Taking the Exam in 2008Rank113456789101112MajorEconomicsPhilosophyEngineeringHistoryEnglishFinancePolitical sciencePsychologySociologyCommunicationsBusiness administrationCriminal justiceAverage LSAT Score # of Students157.4157.4156.2155.9154.7153.4153.0152.5150.7150.5149.1145.53,0472,1842,1974,1665,1202,26714,9644,3551,9022,2301,9713,306Source: 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 (scientific way of thinking) to consider the hypothesis: "Majoring in economics will result in a studentearning a higher LSAT score." Are the data given consistent with this hypothesis? Do the data prove that this hypothesis iscorrect? What factors might you need to consider?

LSAT stands for Law School Admission Test. It is a standardized check administered via the Law…

Answered: ighest average score.

ighest average score.

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Megan used to work at the local pizzeria for $17,000 per year but quit in order to start her own deli. Last year, she paid $4,000 rent each month, $4,500 for employee payroll each month, and $1,500 for supplies each month. She was planning on selling $2,500 worth of furniture but ended up bringing the furniture to her new deli. She had total revenue of $150,000. She asked an accountant and an economist to calculate her annual costs. Accountant says cost is $120,000, and economist says her cost is $139,500. Accountant says cost is $139,500, and economist says her cost is $120,000. Accountant says cost is $10,000, and economist says her cost is $29,500. Accountant says cost is $30,000, and economist says her cost is $10,500.