The Economists' Tool Kit

Read this section and its learning outcomes, which should be your goals as you read through the chapter. Attempt the "Try It" problems at the end of the section before checking the answers.

Try It

Look again at the data in Table 1.1 "LSAT Scores for Students Taking the Exam in 2008". Now consider the hypothesis: "Majoring in economics will result in a higher LSAT score". Are the data given consistent with this hypothesis? Do the data prove that this hypothesis is correct? What fallacy might be involved in accepting the hypothesis?