A New Group of Economists, Called Behavioral Economists, Have Found

question 27

True/False

A new group of economists, called behavioral economists, have found that people are not only less rational than classical economists assumed, but are more moral.

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Definitions:

Expected Frequency

In statistics, the frequency expected in a category of a contingency table under the assumption that the null hypothesis is true.

Chi-Square

A statistical test that measures the difference between observed and expected frequencies in categorical data.

Row Variable

In the context of a data table or matrix, it refers to the variable represented by the rows, often used in cross-tabulation to compare against another variable.

Column Variable

A variable represented by a column in a dataset, where each entry in the column represents a value of the variable.