Musicmystery -> RE: Who Is Smarter Than a Fifth Grader (6/9/2010 7:24:28 PM)
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No, Firm, that's not at all what I said. I pointed out that "the scientific method" is not a polling method. That doesn't mean polling is not done without adherence to standard statistical practice for that (yes, scientific) discipline. But if we must, OK, lets pick apart the poll. First, education level and socio-economic status are important indicators here, and they are missing. Second, questions 4, 5, and 7 are problematic. Four is vague, and "not sure" doesn't really cut it. Certainly a monopoly would fit that description, though yes, that's not a definition of monopoly. Five is quite debatable--if some companies are, even a few, then the question is correct. Seven ignores market equilibrium, the heart of the wage debate. If equilibrium is already above the set wage, nothing would happen. A minor point, perhaps, but then it's supposed to be an economics literacy test.
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