ECO220Y1 Midterm: ECO220Y1Y UTSG Term Test 220 4 MAR17 Solution
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March 31, 2017, 9:10 11:00 am (1) (a) be unchanged. [the number of observations would go up, but there is no reason to expect an upward or downward change in the standard deviation, which measures the variability among males. By chance it may be higher or lower due to sampling error, but we have no reason to expect that a larger sample size would yield either direction of change in particular. This difference is highly statistically significant at all conventional significance levels including 1%: in fact, the p-value is less than 0. 0001. The difference, 15% of males keeping all tokens for themselves versus only 6% of females is economically significant: this is a whopping 9 percentage point difference. Males are more than twice as likely as females to keep all the tokens for themselves. [the reason that the average generosity is basically the same between the sexes is because males are also more likely to be extremely generous. ]
